Amber Enterprises shares hit a 20 per cent upper circuit in trade today and also hit an all time high of Rs 6,815.85 per share on the BSE. The buying in the stock came after the company's board approved a scheme of amalgamation between AmberPR Technoplast India and Amber Enterprises, apart from reporting robust number in its Q2FY25 results.
At around 11:27 AM, Amber Enterprises shares were up 15.12 per cent at Rs 6,538.6 per share. In comparison, the BSE Sensex was up 0.38 per cent at 80,524.52, around the same time. The market capitalisation of the company around the same time stood at Rs 22,075.95 crore.
The Board of Directors of Amber Enterprises India Limited in their meeting held on 22 October 2024 have approved the scheme of amalgamation of AmberPR Technoplast India Private Limited with and into the company," the filing read.
The company also reported its second quarter results on Tuesday after market hours. Amber Enterprises reported a consolidated net profit of Rs 20.96 crore, compared to a loss of Rs 5.65 crore a year ago.
The company's revenue for the second quarter stood at Rs 1,684.7 crore, higher by 81.72 per cent year-on-year (Y-o-Y) from Rs 927.06 crore a year ago.
Likewise, the company's total income rose by 81.15 per cent to Rs 1,702.52 crore as compared to Rs 939.81 crore in the year ago period.
During the second quarter, the company’s earnings before interest, tax, depreciation and amortisation (Ebitda) increased 82 per cent to Rs 132 crore as compared to Rs 72 crore a year ago.
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