Finolex Industries soars on increasing Turnover Discount Scheme across dealer network

20 May 2020

Finolex Industries is currently trading at Rs. 390.15, up by 4.40 points or 1.14% from its previous closing of Rs. 385.75 on the BSE.

The scrip opened at Rs. 387.05 and has touched a high and low of Rs. 393.85 and Rs. 381.80 respectively. So far 3193 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 635.00 on 11-Nov-2019 and a 52 week low of Rs. 283.00 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 401.95 and Rs. 378.00 respectively. The current market cap of the company is Rs. 4858.95 crore.

The promoters holding in the company stood at 52.47%, while Institutions and Non-Institutions held 14.98% and 32.55% respectively.

Finolex Industries has increased the Turnover Discount Scheme (TOD) across its dealer network which is in addition to the TOD that the company pays to incentivise its dealer network. This was the result of week-long deliberations that the company had with its dedicated network of dealers and employees based across the country. The company has a network of over 18,000 retailers, dealers and sub-dealers.

The additional TOD is being paid to the dealers who have achieved their target and for those who could not, will be paid a token amount as a gratitude to cushion the impact of the challenging business environment.

Finolex Industries is the largest PVC pipe manufacturer in India.

 

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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