Shares of this company surged to a new all-time high despite weak market!
The scrip rallied 20 per cent and got locked up in the upper circuit to record an all-time high value.
On Friday, the Indian benchmark indices - Sensex and Nifty 50 were trading lower amid weak global cues. On the flip side, metal stocks were the Top Gainers with BSE Metal and Nifty Metal index surging over 2 per cent & 1.8 per cent, respectively in the early deals. Only buyers were seen in the case of Bonlon Industries Limited. At 2 pm, the scrip rallied 20 per cent and got locked up in the upper circuit at Rs 38.85 per share on BSE to record an all-time high value.
The scrip has soared 46.60 per cent in just five trading sessions. On a six-month basis, the scrip jumped over 75 per cent and furnished returns of nearly 65 per cent since last month. It has also outperformed Nifty Metal index as it plunged 17 per cent and 14 per cent over the period of one month & six months, respectively.
Considering the yearly performance, the net profit of Bonlon Industries Ltd surged 9.36 per cent to Rs 2.14 crore as against Rs 1.96 crore during the previous year ended in March 2021. Also, its net sales rose 186.55 per cent to Rs 387.79 crore as against Rs 135.33 crore during the previous year ended March 2021.
The company is engaged in the business of both manufacturing as well as trading various kinds of ferrous and non-ferrous metals. The main metals used in the business operations are copper, aluminium, zinc & tin.
Keep a close eye on this scrip for the upcoming sessions.