PIDILITE shares spurts after strong results.

Indian-based adhesive mfg. company Pidilite industries Ltd, during market hours Tuesday, reported its financial results for the quarter ended 30-June, 2019 (Q1 FY20).

According to the results, the Company’s total income rose to Rs.2056.67-Cr during the Q1FY20 vis-a-vis Rs.1866.20-Cr during the corresponding period year ago (Q1FY19). The net profit for the quarter rose Rs.292.89-Cr for the Q1FY20 as against Rs.238.67-Cr, year ago.

The stock reacted to the results and Pidilite industries touched its intraday high of Rs.1320.80 per share, during the afternoon hours of trade after opening lower at Rs1269.80 in the morning session.

The stock touched its one year high level at Rs.1323.70 over 3pc on the NSE today, after the company reported strong earning numbers.

At 3.10pm, Pidilite industries stock quoted at Rs.1307.50 per share up by Rs.34.50 or 2.71% from previous closing, in comparison the Nifty scaled at 10946.05, up by 83.45-pts and the Sensex quoted at 36,990.95, up by 291-pts.

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