Birla Corporation hits 52-week high

MUMBAI, Aug 13 (Business Standard): Birla Corporation gained over 7.5 per cent to Rs 517 after the MP Birla group flagship company Birla Corporation has more than doubled its net profit for the first quarter of the current fiscal at almost Rs 1.0 billion as against Rs 460 million in a year ago period.
Net sales for the quarter under review grew by about 12 per cent at Rs 8.59 billion as against Rs7.72 billion in a year ago period.
The company reported operational income of Rs 8.75 billion, higher by 11.7 per cent while the other income by grew by over 65 per cent to Rs 420.12 million compared to Rs250.52 million in a year ago period.
The stock opened at Rs 475 and hit its 52-week high of Rs 537.9 in today's trade. the stock was at its 52-week low of Rs 191 on 28 August, 2013.
Volumes spurted by nearly 3.8 times with a total of nearly 1.0 million shares changing hands on BSE and NSE together.