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Bombay Dyeing shares rise on strong Q4 outcome

Shares of Bombay Dyeing & Manufacturing Company Ltd (Bombay Dyeing) climbed upto 12pc intraday in Friday’s trade after the company reported double-fold rise in March quarter profit. 

According to the result which was posted on Thursday, its standalone net profit recorded Rs.1253.3-crore for the Q4FY19, led by its real estate activities. The Company’s total income during the period was Rs.2,791.1-Crore, V/s Rs765.2crore in the equivalent quarter a year ago.

The company’s BoD has recommended a dividend of Rs .50 per equity share of Rs2/-each for the FY ended 31-March, 2019. 

Reacting positively to the result boosts, Bombay Dyeing  shares touched intraday high of 12-percent at Rs135-per share, and is currently trading at Rs127.95, up by 6.36% from its previous closing of Rs.120 on the NSE. The scrip touched a high and low of Rs.135 and Rs126.35 respectively. The traded Volume of shares currently at 29,16,604 and traded value in lakh 3,781.67.

Meantime, the Sensex traded at 39072-level up over 90points and NSE Nifty at 11741.60 up 16 points at 11.40am, Friday.