Hindustan Composites showed a jaw-dropping almost 120 times surge in volumes today! Compared to two-week average volume of just 95 shares, today 11,000 shares were traded. The stock breached the 20% upper circuit also at Rs.1106 and it continues to remain some 18% higher.

The market is thrilled with the Q4FY16 performance of Hindustan Composites. It reported a super 124% (YoY) jump in net profit at Rs.19 crore on a 68% jump in total income at Rs.68 crore. The excellent performance was purely on operating efficiencies and there is no untoward or one-time gain which helped post this bumper Q4 numbers. Lower base effect most certainly helped.

The company ended FY16 with a net profit at Rs.39 crore, up 50% on a 22% rise in net sales at Rs.183 crore. 63%of its income comes from investments and balance from its supposed main fray business of composites.