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Birla Corporation

December 20, 2006
The Kolkata-based diversified company is set to show strong gains over the next few quarters.

The company showed a 272 per cent jump in net profit to Rs 67.54 crore (Rs 675.4 million) for the quarter ending September 30 from Rs 18.16 crore (Rs 181.6 million) a year earlier.

Birla Corporation rose to Rs 203 levels in March 2005. From there it declined to Rs 160 levels by May 2005.

But from then on the stock recovered and rallied to peak at Rs 412.8 by April 2006. Profit booking saw the stock slipping again to Rs 168 levels by mid-July, but soon it staged a recovery.

Birla Corp has risen by 100 per cent in the second half of the year, from Rs 168 in mid-June to Rs 337 on December 8. The stock has slipped off a bit facing resistance at Rs 370 levels but with the mechanical indicators supporting a recovery, it may rise further.

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Also read: The insider who became an outsider

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