Prakash Industries surges 5.4%

The company said that the PVC Pipe division achieved 15% growth in FY16 and 20% in FY17.

Prakash Industries jumped 5.4% to Rs.32.30 on BSE. The PVC Pipe Division of PIL is likely to achieve sales of 31,800 MT in the current financial year 2016 against 27,638 MT in the last year, registering growth of 15% YoY and is likely to further grow by 20% in the next financial year with a target sale of 38,000 MT. 

The scrip opened at Rs. 32.5 and has touched a high and low of Rs. 32.9 and Rs. 31.9 respectively. So far 260722(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 412.21 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 57.5 on 16-Jan-2015 and a 52 week low of Rs. 23.15 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 34.85 and Rs. 29.9 respectively.

The promoters holding in the company stood at 46.49 % while Institutions and Non-Institutions held 3.01 % and 50.5 % respectively.

The stock is currently trading below its 200 DMA.