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Shares of Shalimar Paints soared as much as 12 per cent today after the company reported a 48 per cent increase in net profit for the second quarter this fiscal.
Reacting to the results that were announced after market hours yesterday, the company scrip opened on a strong note on the National Stock Exchange and then jumped 12 per cent to Rs 77.40. On the BSE, the stock climbed 9.19 per cent to Rs 76.
Shalimar Paints posted a net profit of Rs 4.13 crore in the three months ended September 30, 2013 compared with Rs 2.79 crore a year earlier.
Net sales increased to Rs 121.04 crore from Rs 114.49 crore.
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