KSB shares surge 11% after September quarter profit jumps to Rs 42 crore

KSB share price surged over 11 percent intraday on November 6, a day after the company declared its September quarter results.

The company reported consolidated profit at Rs 42.7 crore in Q2 FY21 against Rs 25.7 crore. Its revenue fell to Rs 362.3 crore from Rs 365.8 crore YoY.

The stock was trading at Rs 512.00, up Rs 52.20, or 11.35 percent at 10:08 hours. It has touched an intraday high of Rs 526.00 and an intraday low of Rs 493. It was also one of the top BSE smallcap gainers.

The scrip also witnessed a spurt in volume by more than 4.01 times and was trading with volumes of 5,343 shares, compared to its five day average of 777 shares, an increase of 587.29 percent.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has zero promoter pledge with FII / FPI or institutions are increasing their shareholding. It also has low debt and has been able to generate net cash - improving net cash flow for the last 2 years.

Moneycontrol technical rating is bullish with moving averages being bullish and technical indicators being neutral.