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Finolex Cables surges on introducing fast-moving range of electrical wire accessories

Finolex Cables is currently trading at Rs. 361.75, up by 6.15 points or 1.73% from its previous closing of Rs. 355.60 on the BSE.

The scrip opened at Rs. 359.00 and has touched a high and low of Rs. 367.00 and Rs. 359.00 respectively.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 506.75 on 20-Mar-2019 and a 52 week low of Rs. 334.95 on 15-Oct-2019.

Last one week high and low of the scrip stood at Rs. 367.00 and Rs. 353.00 respectively. The current market cap of the company is Rs. 5438.52 crore.

The promoters holding in the company stood at 35.92%, while Institutions and Non-Institutions held 27.12% and 36.96% respectively.

Finolex Cable has introduced a fast-moving range of electrical wire accessories like door bell, extension box, spike guard, angle holders, batten holders, etc. to satisfy the growing demand for quality electrical products. The company has been steadily expanding into the electrical segment with a product range that includes electric water heaters, fans, miniature circuit breakers, switches and lighting products. The company’s rapid and industry-leading growth has been the outcome of a well-formulated strategy for setting up modern, well-equipped plants and regular capacity expansion in alignment with market requirements.

Finolex Cables is India’s largest and leading manufacturer of electrical and telecommunication cables.

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