IFB Agro hits new high, doubles money in 65 days
IFB Agro Industries jumped 15 percent on Monday and hit a fresh 52-week peak of 1,529.75 rupees per share as the liquor manufacturer extended a rally that has doubled investor capital in just 65 days. Trading on the Bombay Stock Exchange began at 1,419 rupees before the stock surged to its highest level since the company set its previous annual record of 1,367.85 rupees on Oct. 29. The shares traded at 747.20 rupees on Aug. 29 and have climbed 250 percent from their 52-week bottom of 436.95 rupees. Market capitalization stands at 1,386.33 crore rupees.
The beverage producer reported second-quarter profit after tax of 22.70 crore rupees compared with 2.09 crore rupees during the same period last year. First-quarter earnings reached 17.18 crore rupees. Total revenue for the July-through-September period hit 532.88 crore rupees, up nearly 39 percent from a year earlier.
The stock has advanced 212 percent across two years and delivered returns of 337 percent over five years while the Sensex index gained 108 percent during the same stretch.
