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Share price of Uflex Ltd has seen an increase of 20 percent today. On Wednesday, after hitting the upper circuit, the company’s stock traded at Rs. reached the level of 463.10. There were buy orders of 18,800 shares of the company in the stock market today. But still no investor showed interest in selling the shares. Let’s find out what is the reason for the surge in the shares of Uflex Limited due to this storm?
What is that news?
Uflex Limited has recently reappointed Rashmi Verma as an independent and non-executive director. The appointment is for 3 years. This news has boosted the stock.
This stock will be divided into 5 parts, investors are eager to buy
Were the quarterly results weak?
The first quarter of the current financial year has been disappointing for the company. The company’s post-tax loss during this period has been Rs 416 crore. While in the same quarter a year ago, the company had Rs. 375 crore profit was made. The main reason for the loss suffered by the company is attributed to the change in forex policy by the Central Bank of Nigeria.
The share price of the company has seen an increase of more than 8 percent in the last one month. At the same time, investors who bought and held this stock 6 months ago have made over 22 percent profit so far.