Finolex Cables hits record high on earnings

Shares in Finolex Cables Ltd gain as much as 9.2 percent to hit a record high of 152.20 rupees after having risen 9.9 percent on Thursday when the maker of cable and wires reported better-than-expected earnings in the January-March quarter.

Domestic brokerage Sharekhan increased its price target for Finolex to 180 rupees from 152 rupees and retained a "buy" rating in a research note dated May 8.

Sharekhan called Finolex's cash flow "hefty" and said after a debt repayment of 540 million rupees ($9.00 million), the company had a "stronger balance sheet."

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Lawmakers must not dilute penalties for insurers on mis-selling

    The much delayed insurance laws (amendment) bill is back in the news and the positive statements of finance minister Arun Jaitley suggest that the gov

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

New model for effective education

After interacting with students and teaching community on a ...

Zehra Naqvi

Being unrealistic can be good for you

Depression is a term that most people use very casually ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture