​Shares of Neyveli Lignite Corp hit a 10-month high. Know how

Shares of Neyveli Lignite Corp. hit a 10-month high after the miner announced a modest rise in quarterly profit on the back of higher output.

Neyveli Lignite said its first quarter Net Profit rose 10 percent to 367 crore rupees compared with 334 crore rupees in the same quarter a year ago. Sales during April-June surged 22 percent to 1,843.7 crore rupees from 1,510.5 crore rupees in the year ago period.

Neyveli Lignite 7.60 rupees, or 9 percent, to 92.70 rupees, its highest since Nov 4th, on the National Stock Exchange, where 26 lakh shares were traded by 2:30 pm compared with the 5-day average of 1.1 lakh shares.

Neyveli Lignite's market capitalisation has remained flat at 14,621 crore rupees in the past one year as investors stayed away from commoditized players.

Image credit: Indiatimes