Finolex Cables, Finolex Industries surge up to 14% as NIFTY50, SENSEX rally for the 6th straight day

Finolex Group companies, Finolex Cables and Finolex Industries shares rallied up to 15% on Monday, March 24, led by a surge in volume amid a rally in the broader markets. The benchmark indices, NIFTY and SENSEX, extended gains for the sixth straight day.

NIFTY50 rose by over 320 points, or 1.38%, to 23,671, while the BSE SENSEX rallied 1,072 points, or 1.39%, to trade near 78,000 levels at 77,977, at around 2:00 pm.

Last week, on Wednesday, Finolex Cables clarified to the stock exchanges that it had disclosed all the events and information required by the market regulator Securities and Exchange Board of India (SEBI) and had no pending information or announcement, that will have any impact on the stock’s price or volume behaviour.

Earlier this month, Finolex Industries announced that its board of directors approved the appointment of Rambabu Sanka as the President, Technical and Senior Management Personnel, of the company, starting March 3, 2025, based on the recommendation of its Nomination and Remuneration Committee.

Finolex Cables shares surged as much as 14.4% on March 24, reaching an intraday high of ₹971.2 per piece on the NSE. However, the stock pared some of early gains to trade 14% higher at ₹960 each at around 2:15 pm. As many as 99.78 lakh shares changed hands, taking the total trading value ₹930.86 crore.

Shares of Finolex Industries Ltd, on the other hand, gained up to 13.15%, hitting the day’s peak at ₹197 each on the NSE. However, the stock pared some of its early gains to trade 7.5% higher at ₹187.2 per piece on the bourse at around 2:15 pm. The rally in the stock price was aided by a rise in volume. As much as 2.19 crore shares changed hand on the NSE, while the trading value stood at ₹421.04.

The stock has gained after falling for the last three consecutive sessions, while Finolex Cables’ shares have been on an uptick for two straight sessions.

So far in the calendar year 2025, shares of Finolex Cables and Finolex Industries have given poor returns to their shareholders declining 20% and 24%, respectively.