Corporate Actions
Forbes & Co spurts 68% in five sessions

17-Aug-22   14:32 Hrs IST
Shares of Forbes & Company have surged 68.23% in five sessions. The gains followed the company reporting turnaround Q1 result on 13 August 2022.

Forbes & Company reported consolidated net profit of Rs 145.78 crore in Q1 June 2022 as against net loss of Rs 4.34 crore in Q1 June 2021. Net sales declined 6.36% to Rs 121.85 crore in Q1 June 2022 over Q1 June 2021.

The board has proposed special interim dividend of Rs 65 per share for the financial year 2022-23. The record date is set on 25 August 2022.

Forbes & Company is involved in three main areas: engineering, real estate and business of developing payment processing and transaction automation solutions.

On the BSE, 1.78 lakh shares were traded in the counter so far compared with average daily volumes of 30,408 shares in the past two weeks. The stock hit a high of Rs 689 and a low of Rs 589 so far during the day.

The stock hit a 52-week high today, 17 August 2022. The stock hit a 52-week low of Rs 201.20 on 18 August 2021.

The stock had outperformed the market over the past one month, rising 67.18% compared with 12.07% rise in the Sensex.

The scrip outperformed the market in past one quarter, gaining 80.39% as against Sensex's 10.92% rise.

The scrip had also outperformed the market in past one year, soaring 224.48% as against Sensex's 7.99% rise.

On the technical front, the stock's daily RSI (relative strength index) stood at 91.06. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

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