BCL Industries soars over 4 per cent on robust Q3 earnings!
Its segments include oil & vanaspati, distillery unit, and real estate.
BCL Industries Limited, formerly, BCL Industries & Infrastructure Limited is an India-based company engaged in the business of edible oils, distilleries, and real estate. Its segments include oil & vanaspati, distillery unit, and real estate.
The stock has gained more than 4 per cent on a day wherein the stock market corrected significantly from the day’s high. The robust move in the stock is seen after the company had reported its Q3FY22 earnings. In Q3FY22, the company has reported growth of 22 per cent in its total income to Rs 566.6 crore as against Rs 401.5 crore during the same period last year. Net profit of the company in Q3FY22 jumped 15 per cent YoY to Rs 24.15 crore as against Rs 20.95 crore in Q3FY21.
The stock zoomed over 40 per cent in the last one month while in the last three months, it has witnessed a two-fold jump in the stock price.
The stock is currently trading 6 per cent lower from its 52-week high of Rs 498.80, registered as of January 20, 2022. Technically, the stock is sound as it is trading above all the key moving averages while the 14-period RSI on the daily time scale is in super bullish territory.