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Vadilal Industries touches 52-week high, stock surges 20%

SI Reporter/Mumbai 21 Aug 12 | 12:04 PM
 Vadilal Industries Ltd
tradenow

BSE   28 Aug 14 | 10:33 AM

246.70  1.2 (0.49%)

NSE   28 Aug 14 | 10:25 AM

246.40  1 (0.41%)

Vadilal Industries was locked in 20% upper circuit at Rs 175, also its 52-week high on the Bombay Stock Exchange. A combined 111,492 shares have already changed hands in the counter so far and there are pending buy orders for 24,271 shares on both the exchanges.

Ice cream and frozen foods Company has reported a 59% year-on-year (yoy) jump in net profit at Rs 13.78 crore for the first quarter ended June 30, 2012. Net sales have gone up by 25% to Rs 133.37 crore on y-o-y basis.

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The company's board has also recently given approval for undertaking capital expenditure of Rs 30.62 crore towards expansion-cum-modernisation of its ice-cream production facilities situated at Pundhra in Gujarat and at Bareilly in Uttar Pradesh, as well at its processed food division situated at Dharampur in Gujarat.

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