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Shares of this cable company jumped more than 17% today; know why
Last Updated: 2nd January 2023 - 06:21 pm
In the last 6 months shares of this company gained more than 50%.
On Monday, shares of Birla Cable Limited rallied 17.69% from the previous closing level of Rs 137.95 to touch the upper circuit level of Rs 165.20. The scrip witnessed a total volume of more than 1.27 Lakhs with a total traded quantity of 2,38,702.
The stock opened at Rs 142.95 with a high and low of Rs 165.50 and Rs 135.75. The stock closed trading today at Rs 162.35, up by 17.69%.
Birla Cable Limited (BCL), belongs to M P Birla group and its main business activities are manufacturing and sales of all types of optical fibre cables, copper telecommunication cables, structured copper cables, speciality cables and allied accessories. The company has a manufacturing plant at Rewa, Madhya Pradesh with a total capacity of around 36,00,000 fibre km per year.
In Q2FY23, the revenue of the company grew by 35% QoQ and 45% on a YoY basis. The bottomline grew by more than 200% QoQ basis and YoY 151%. There is a positive expectation from the company for Q3FY23. The company has a 5-year CAGR of 20% in sales growth. And 5-year CAGR of 46% in terms of profit growth.
In the last six months, the shares of the company have given more than 50% returns and on in the last 1 year, the stock has given about 55% returns.
The stock has a 52-week high of Rs 177.70 and a 52-week low of Rs 87.20. The company has a ROCE of 13.9% and an ROE of 12.2% with a market capitalisation of Rs 487.05 crore.
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