Finolex Group stocks at new highs

The Finolex group seems to have come onto the radar of long term investors, scouting around for strong stocks. Finolex Cables today hit a new 52-week high at Rs.82.40 and Finolex Industries hit a new high too at Rs.171.15. Both stocks have shown an over 2 times surge in volumes.

Finolex Industries, for H1FY14 had posted a 92% (YoY) rise in net profit and Finolex Cables had shown a 38% jump. The group has caught the fancy as it remains largely debt free, has a good cash flow and good performances. Thus the stocks are moving purely on fundamental play.