Shares of Line India, a provider of medical oxygen to hospitals and industrial gases to firms, surged 10 per cent to hit a brand new excessive of Rs 2,078.60 in intra-day commerce on the BSE on Monday in an in any other case weak market on expectation of upper product demand, because of the rising coronavirus circumstances. The inventory was buying and selling increased for the fourth straight day, rallying 19 per cent throughout the interval.
At 09:23 am, Linde India was buying and selling 8.5 per cent increased at Rs 2,050, as in comparison with 1.8 per cent decline within the S&P BSE Sensex. Previously three months, the inventory zoomed 124 per cent, in opposition to 3 per cent decline within the benchmark index.
Linde India Ltd is a number one provider of gases and associated services in India. The corporate is primarily engaged in manufacture of commercial and medical gases and building of cryogenic and non-cryogenic air separation crops.
For the October-December quarter (Q4CY20), Linde India had reported 145 per cent 12 months on 12 months (YoY) bounce in its consolidated revenue earlier than tax and distinctive objects of Rs 85.21 crore in opposition to Rs 34.89 crore throughout the identical quarter final 12 months. Income from operations grew 15 per cent at Rs 475 crore from Rs 413 crore within the corresponding quarter of earlier fiscal.
In the meantime, as per March 2021 quarter shareholding disclosed by Linde India, institutional buyers decreased their mixed stake within the firm to 13.04 per cent from 13.95 per cent on the finish of December 2020 quarter. Particular person shareholders holding nevertheless rose to 9.88 from 9.04 per cent in earlier quarter.
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