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Global Spirits shares extend gains, jump 10% to hit 52-week high on strong Q4 results

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Global Spirits continued its rally on Friday, gaining 10 percent to hit a fresh 52-week high, as investor sentiment remained upbeat on the company's stellar March quarter results.

Global Spirits shares extend gains, jump 10% to hit 52-week high on strong Q4 results
The share price of Globus Spirits extended gains on Friday, soaring 10 percent to hit a fresh 52-week high, as investor sentiment remained upbeat on the company's stellar March quarter results.
The stock has been gaining after the company reported a 161 percent jump in the net profit at Rs 50.64 crore in Q4 from Rs 19.40 crore during the year-ago quarter. Sales in the quarter under review rose 31.37 percent to Rs 356.68 crore from Rs 271.51 crore during the same quarter of the previous year.
For the full year FY21, its net profit surged 182.24 percent to Rs 140.84 crore as against Rs 49.90 crore in FY20. Net sales, meanwhile, were up 5.30 percent to Rs 1,230.77 crore in FY21 versus Rs 1,168.82 crore during the previous year.
According to the data available on NSE, portfolio management services firm Old Bridge Capital on Thursday bought a 2.51 percent stake in the firm.
As per the data, since May 2021, Old Bridge Capital Management has bought 7,25,701 equity shares in the company at Rs 495.02 a share.
The stock has surged more than 36 percent in the last 7 sessions and rallied 346 percent in the last 1 year.

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