Finolex Cables hits over 4-yr high; stock up 15% in a week post strong Q3

Finolex Cables said that the Union budget 2023 direct benefits to various segment of the company

Shares of Finolex Cables rallied 6 per cent to hit over four-year high of Rs 632.9 in Wednesday’s intra-day trade. With this spike, the stock has climbed 12 per cent in the past two days. It traded at its highest level since June 2018 and had hit a record high level of Rs 750 on January 19, 2018.

In the past one week, the stock of fast moving electrical goods (FMEG) company outperformed market as shares gained 15 per cent after the company reported a good set of numbers for the quarter ended December 2022 (Q3FY23). In comparison, the