Electrosteel Castings gains on better Q2 earnings

Electrosteel Castings, a water infrastructure company, gained on Friday after it has posted better Q2 numbers.

The company posted a rise of 91.27% in net profit to Rs 370.36 million for the quarter ended Sept 30, 2012 as compared to Rs 193.63 million in the same period last year.

Total income has increased by 8.08% to Rs 4.94 billion for the quarter ended Sept 30, 2012 from Rs 4.57 billion in the year ago period. Shares ofthe companyare trading at Rs 22.75, up Rs 0.5, or 2.25% at the Bombay Stock Exchange (BSE) on Friday at 9:49 a.m.The scrip has touched an intra-day high of Rs 23.40 and low of Rs 22.25. The total volume of shares traded at the BSE is 230,333.In the earlier session, the shares rose 11.25%, or Rs 2.25, at Rs 22.25. Currently, the stock is trading down 22.22% from its 52-week high of Rs 29.25 and above 43.99% over the 52-week low of Rs 15.80.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 20.05 2.20 10.97 1 Month 17.75 4.50 25.35 3 Months 19.90 2.35 11.81 6 Months 20.85 1.40 6.71 1 Year 28.70 (6.45) (22.47) Note: Based on previous day closing price.