Pitti Laminations soars almost 7%

Pitti Laminations is in the limelight today. Opening almost Rs.4 higher the stock is now at an intra day high at Rs.58.70, up 7%. It’s 52-week high is at Rs.73.20.

The stock is reacting today to the news it announced yesterday after market closure – its new manufacturing unit at Pune began commercial production since 17^th Dec. With this plant, the company is hoping to be closer to the raw material vendors and customers, thus bringing down transportation and logistics cost. This in turn is expected to help shore up its margins.

The company which makes electrical laminations, had ended Q2FY15 with a net profit of Rs.98 lakh v/s Rs.1.2 crore in previous Q2 and Rs.84 lakh in Q1.