Hubtown builds strong

Hubtown which was earlier known as Akruti City is on a major rise today. The stock opened higher by around Rs.2 at 121.55 and went on to hit an intra day high at Rs.128.50. Though it has come off those levels, it is up 4% at Rs.124 levels. Volumes are pretty robust too.

The stock is reacting positively to the Q2FY15 results wherein the company posted a very huge rise in net revenue at Rs.196 crore, up almost four times (YoY). Sequentially, it was up 63%. Net profit for the quarter came in at Rs.21 crore, up 7 times and QoQ, it was up by a huge 21 times! Purely higher sales is what led to this spurt in bottomline.