PG Electroplast Shares Jump 10% To A Record On Q1 Profit Surge

Shares of PG Electroplast Ltd. jumped nearly 10% to hit a record high on Monday after its consolidated profit surged in the first quarter.

The electronic manufacturer's consolidated net profit rose 46% year-on-year to Rs 12.3 crore in the June quarter, according to an exchange filing.

• Revenue down 26% at Rs 307 crore.

• Net profit up 46% at Rs 12.3 crore.

• Ebitda up 27% at Rs 25.7 crore.

• Margin at 8.37% vs 4.88%.

Shares of PG Electroplast rose 6.60% to Rs 1,666 apiece, compared to a 0.13% gain in the benchmark NSE Nifty 50 as of 11:58 a.m. The stock gained 9.80%, the most since Dec. 14, 2022, to hit a record high of 1,716.05 per share.

The stock has risen nearly 46.6% year to date. The total traded volume so far in the day stood at 13.3 times its 30-day average. The relative strength index at 68.

All three analysts tracking PG Electroplast maintain a 'buy' rating on the stock, according to Bloomberg. The average of 12-month analyst price targets implies a potential upside of 13.8%.