Finolex Cables Shares Jump During Diwali Muhurat Trading on Strong Q2 Results

Finolex Cables shares surged over 14 percent during Sunday's Muhurat Trading session after posting strong second-quarter results for fiscal year 2027. Net profit climbed 67.5 percent year-on-year to 273 crore rupees, compared to 163 crore rupees in the same period last year. Revenue jumped 65 percent to 2,269 crore rupees from 1,376 crore rupees, while earnings before interest, tax, depreciation, and amortisation more than doubled with a 113 percent rise to 311 crore rupees.

Growth Drivers

The revenue growth came from higher sales volumes across both electrical and communication cable businesses. The electrical segment saw strong volume growth in automobile, agricultural, industrial, and solar uses. Meanwhile, the communication business grew due to higher optic fibre cable volumes and better prices.

Expansion and Market Outlook

Finolex stated that its fibre draw facility expansion is on track and aims for full capacity use in fiscal year 2027 with a capacity of 4 million fibre kilometres. On the stock exchanges, shares opened at 1,208.40 rupees on the BSE, hitting a high of 1,247.95 rupees and a low of 1,180 rupees. Ruchit Jain, Head of Equity Technical Research at Motilal Oswal Financial Services, noted the stock found support near its 200-day exponential moving average and placed immediate support at 1,000 rupees with resistance between 1,350 and 1,400 rupees. Gaurav Arora, Head of Research at SAHI, added that the stock trades in a channel formation, pointing to 1,255 rupees as a key resistance level.

Context

Diwali Muhurat Trading is a symbolic and auspicious one-hour trading session held across Indian stock exchanges every year on the festival of Laxmi Pujan. Companies often release quarterly earnings around this festival period, drawing strong retail participation and market interest.