Kesoram Share price zoomed up by almost 8 per cent to Rs 168 on back of almost three times jump in trading volumes. Since 11th August 2016, post April-June (Q1 Financial Year 16-17) quarter results, the stock rallied 23 per cent from Rs 137 after the company registered a net profit of Rs 9.49 crores against a loss of Rs 165 crores in previous year quarter.
In a filing to the exchanges while announcing the Q1 results of the financial year 2017, the company announced its tyre business is progressively turning around as observed from the fact that it has achieved a positive swing of Rs 58 crores. Total debut has reduced substantially as a consequence of which finance costs are down by close to 50 per cent.
Recent Happenings of the Share
- 26 Sep 2016- Traded on new 52 Week High value 174.55
- 26 Sep 2016- Spurt in Volume by more than 2.88 times
- 26 Sep 2016 - Spurt in Volume by more than 2.77 times
- 23 Sep 2016 - Traded on new 52 Week High value 167.65
- 23 Sep 2016 - Spurt in Volume by more than 3.01 times
- 22 Sep 2016 - Traded on new 52 Week High value 160.65
- 22 Sep 2016 - Spurt in Volume by more than 2.05 times
Kesoram Industries was founded in the year 1919 under the name of Kesoram Cotton Mills Ltd. From its humble beginnings as a cotton textile mill in Kolkata, Kesoram expanded into the production of rayon. Its first rayon plant was built in 1959, with a production capacity of 4,635 metric tons of rayon yarn every year.
Kesoram share price closed at Rs 171.85, up by 6.25 per cent. Kesoram is one of the Top 500 shares identified by Dynamic Levels.
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