Finolex Cables shares surged over 14% during Muhurat Trading on Sunday, 8 November, after the company reported strong second-quarter results for FY27, with substantial growth in revenue, net profit, and operating earnings.
The company reported a 67.5% year-on-year increase in net profit to ₹273 crore in Q2 FY27, compared with ₹163 crore in the corresponding quarter last year.
Revenue climbed 65% to ₹2,269 crore from ₹1,376 crore a year earlier. Earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled, rising 113% to ₹311 crore from ₹146 crore in the year-ago quarter.
Finolex Cables attributed the strong revenue growth to higher volumes across its electrical and communication cables businesses. The electrical cables segment witnessed significant volume growth across automobile, agricultural, industrial and solar applications.
The communication cables business also recorded an improvement, supported by significantly higher optic fibre cable (OFC) volumes compared with the year-ago period. Better realisations in this segment further contributed to improved margins, the company said.
Finolex Cables’ expansion plans
Finolex Cables also provided an update on its fibre draw facility expansion, stating that the project was progressing as scheduled. The company expects the new facility to achieve full capacity utilisation in FY27.
The facility will have an installed capacity of 4 million fibre kilometres. Its commissioning is expected to strengthen the company’s optic fibre manufacturing capabilities as demand for communication cables continues to grow.
Finolex Cables share price today
Finolex Cables share price today opened at ₹1,208.40 apiece on the BSE, the stock touched an intraday high of ₹1,247.95 per share, and an intraday low of ₹1,180 per share.
Finolex Cables shares have gained 9.32% over the past week and 14.21% in the last two weeks. The stock has advanced 21.85% over the past three months and 9.14% in six months. On a year-to-date (YTD) basis, it has delivered a strong return of 58.38%. However, the stock has declined 11.16% over the past month.
Ruchit Jain, Head of Equity Technical Research, Wealth Management, Motilal Oswal Financial Services, said Finolex Cables has recently witnessed a correction but is expected to trade within a range in the near term, having found support near its 200-day exponential moving average (DEMA). He placed immediate support at ₹1,000, while resistance is seen in the ₹1,350–1,400 range.
Gaurav Arora, Head of Research at SAHI, said Finolex Cables has been trading within a channel formation, with Sunday’s 14% surge indicating strong buying interest. He identified ₹1,255 as a crucial resistance level, adding that a sustained move above it could pave the way for a rally towards ₹1,300. However, the stock may pause or consolidate near this resistance after the sharp single-session gain. The overall technical structure remains constructive as long as the stock holds on to its gains and continues to trade within the channel.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
