Stocks

Carborundum shares surge over 5 per cent on strong Q2 results

Internet Desk | Updated on October 30, 2020 Published on October 30, 2020

The shares of Carborundum Universal has touched day's high of 5.25 per cent to ₹281.70 on Friday and is among the top gainers on the BSE Smallcap index.

It has been gained for the last six days and delivered a return of 19.68 per cent during this period.

The Relative Strength Index of the stock is at 67.3, and it broke the 200-day moving average at ₹260.6.

Earlier, the Murugappa Group company had reported a 34 per cent growth in profit during the second quarter ended September 30, 2020, to ₹86.4 crore, from ₹64.5 crore.

Consolidated net sales for the quarter were up one per cent to ₹683 crore from ₹678 crore of the same quarter last year, driven by steady performance across segments.

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Published on October 30, 2020
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