Everest Industries hits record high, shares double in past 1 yr

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Shares of Everest Industries hit an all-time high on Friday in an otherwise subdued session.

Incorporated in 1934, Everest is a leading and fastest growing building solutions provider. It offers building products and building solutions for housing, commercial and industrial sectors in India and abroad.

The shares have hit the all-time high of Rs 774.90 per share in the morning session. It, however, pared some of the early gains to settle at Rs 735.0, up 11.7 per cent from the previous close.

Over the past one-year period, it more-than-doubled the investments of its stakeholders as share price rose 134 per cent.

Coming to its earnings, during Q3FY22, the company reported a 33.6 per cent year-on-year rise in consolidated net profit at Rs 7.19 crore, whereas revenue from operations jumped 20.5 per cent during the quarter to Rs 337 crore.

According to reports, some foreign portfolio investors have increased their stake in the company during the quarter that ended in December 2021.

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