Finolex Industries settled on the Brighter Side

A meeting of the Board of Directors of Finolex Industries Ltd is scheduled on February 04, 2017, in order to consider and approve, the unaudited financial results for the quarter and nine months ended on December 31, 2016 (Q3). The Company will close the trading window from January 19, 2017 to February 06, 2017 (both days inclusive). Finolex Industries share price was last trading on NSE at Rs. 485.50 as compared to the previous close of Rs. 463.10. The total number of shares traded during the day was 2,14,648 on the NSE.

The stock hit an intraday high of Rs. 455.3 and intraday low of 447.1. The net turnover during the day was Rs. 2448431.

Finolex Industries Ltd. was incorporated in the year 1981. It is a Mid Cap company which has a market cap of Rs 5725.76 Cr. and operates in the Petrochemicals sector.

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Finolex Industries makes New 52 Week High

Finolex Industries today announced a 36.05 per cent rise in standalone net profit at Rs 98.04 crores for the first quarter ended 30^th June 2016.

Finolex Industries share price made a new lifetime high of Rs 497.50 against the lifetime high of Rs 493.90 it made yesterday. The share price however closed at Rs 460.50, down by 2.30 per cent.The company had also announced a net profit of Rs 72.06 crores in the corresponding period last fiscal.

Total income from operations grew 6.23 per cent to Rs 672.86 crores in the quarter under review from Rs 633.38 crores in the same period a year ago, Finolex Industries declared in filing to BSE.

Finolex Industries share price ended lower by 3.36 per cent at Rs 458.45 on the Bombay Stock Exchange.

Finolex Industries Ltd also informed BSE that the Board of Directors of the Company has decided in a meeting held on 26^thAugust, 2016, inter alia, has transacted that Mr. Anil V. Whabi is appointed as additional director in the capacity of whole-time director designated as Director - Finance.

Finolex Group is one of the private sector conglomerate based in Pune of India. The Finolex Group is made of the following Companies- Finolex Cables Limited, Finolex Industries Limited, Finolex J-Power Systems Limited and Finolex Plasson Industries Limited. In July of 1945, two young brothers P.P Chhabria and K.P Chhabria came to Pune from Karachi in search of a livelihood and within six months set up a small shop selling electrical cables. The retail business became quite successful. A sizable order in the mid 1950s from the Defence Department for wire harnesses for trucks and tanks bolstered their confidence and they decided to manufacture Cables, themselves.