Finolex Cables is currently trading at Rs. 57.60, up by 0.35 points or 0.61% from its previous closing of Rs. 57.25 on the BSE.
The scrip opened at Rs. 57.90 and has touched a high and low of Rs. 58.25 and Rs. 57.20 respectively. So far 14788 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 65.90 on 19-Jul-2013 and a 52 week low of Rs. 41.25 on 22-Mar-2013.
Last one week high and low of the scrip stood at Rs. 60.00 and Rs. 56.20 respectively. The current market cap of the company is Rs. 883.22 crore.
The promoters holding in the company stood at 35.78% while Institutions and Non-Institutions held 11.46% and 48.78% respectively.
Credit rating agency, CRISIL has upgraded its rating on the long-term bank facilities and non-convertible debenture programmes of Finolex Cables to ‘AA+/ Stable’ from ‘AA/Positive’. The rating on the company’s short-term bank facilities and debt programme has been reaffirmed at ‘A1+’.
The company has received the said ratings on expectation that the company will continue to remain strong on account of healthy operating performance going forward.
Finolex Cables is part of the diversified Finolex Group. The company manufactures wide range of cables such as PVC insulated electrical cables, Flameguard - FRLS cables, auto and battery cables, PVC winding wires, jelly-filled telephone cables, LAN cables, switchboard cables. It is India's largest and leading manufacturer of electrical and telecommunication cables.
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