Advanta India up over 3%

Advanta India is doing well today morning, mainly on the back of its very good performance for second quarter ended 30^th June 2013. The stock is currently up over 3% at Rs.155.35, with an intra day high at Rs.157.20. Volumes are pretty robust at almost 8300 shares. Market cap stands at Rs.1309 crore.

The stock is up in the green after it posted a 2.2 times rise in consolidated net profit at Rs.32 crore on a 26% rise in net sales at Rs.311 crore. This is a seed making company and this is the peak or the best season for the company. United Phosphorous holds 49.81% stake  and is a holding company for the global company, Advanta.