Finolex Cables Hits 20% Upper Circuit: Profit Jumps 67%

Finolex Cables hit its 20% upper circuit at ₹1,309.20 on Sunday, November 8, 2026, after the Indian cable maker reported a 67% jump in quarterly profit. The stock was the biggest gainer in India's special Muhurat trading session for Diwali, as investors reacted to second-quarter results published on November 7 that showed revenue up 65% and margins expanding sharply.

What happened

Finolex Cables shares surged as much as 20% to hit an upper circuit of ₹1,309.20 during the one-hour Muhurat session on November 8, according to Upstox. An upper circuit is the maximum price move allowed in a session — once a stock locks there, buying can continue to queue but the price cannot rise further that day. Independent market data for the session put the gain at 19.98%, making Finolex the top gainer among the most actively traded stocks by value.

The move reversed a weak week for the stock. Finolex had closed Friday at about ₹1,091.60, down about 7% in that session, and was down about 7% over the past month before Sunday's jump. Even after the 20% surge, the shares remain below their 52-week high of ₹1,499, reached on October 8, 2026.

The key numbers

Profit: Consolidated net profit rose 67% year on year to ₹273 crore for the quarter ended September 30, 2026, from ₹163 crore a year earlier.

Revenue: Revenue from operations rose 65% year on year to ₹2,269 crore, from ₹1,376 crore in the same quarter last year.

Margins: Earnings before interest, taxes, depreciation and amortisation (EBITDA) more than doubled to ₹312 crore, from ₹145 crore, and the EBITDA margin expanded to 13.73% from 10.57%.

Half year: For the first half of FY27, net profit jumped 61% to ₹522 crore from ₹325 crore, while revenue rose 54.4% to ₹4,282 crore from ₹2,771 crore.

Size: According to NSE data cited by Upstox, the company's market capitalisation stood at ₹20,022.82 crore as of November 8, 2026.

Why it is blowing up

The earnings beat landed on a symbolic day. Muhurat trading is the special Diwali session that opens the new Samvat year — Samvat 2083 this year — and volumes are usually light, so a fresh, strong result can move a mid-cap stock quickly. Finolex gave traders exactly that: growth above 60% on both the top and bottom lines, plus a clear margin expansion story, in a session where the broader market was flat. The Nifty 50 closed the Muhurat session down 0.18% at 24,986.40, which made Finolex's 20% lock-in stand out even more.

The segment detail also helped. The company said its electrical cables business recorded significant revenue growth in automobile, agricultural, industrial and solar applications. In communication cables, optic fibre cable volumes increased significantly year on year, and higher realisations supported margins. In other words, the growth was not from one product line — demand came from vehicles, farms, factories, solar projects and fibre networks at the same time.

What the company is building next

Finolex said its expansion plans for its fibre draw facility are on track, with the new plant's full capacity of 4 million fibre kilometres expected to commence operations in FY27. That matters because fibre is the higher-growth side of the business: data centres, broadband rollouts and 5G backhaul all consume large volumes of optic fibre cable, and owning more draw capacity lets the company supply that demand from its own production rather than bought-in fibre.

Shares are up about 66% since the start of the year and about 15% over the past six months, with a 52-week low of ₹700.80 on January 30, 2025. Sunday's move extends a strong year, though the price is still roughly 13% below the October high.

What happens next

The next test comes when regular trading resumes on Monday, which will show whether the unfilled buying behind the upper circuit holds or fades into profit-taking. Investors will also look for commentary on whether the 65% revenue growth pace can be sustained in the second half, and for updates on the fibre facility timeline.

For now, the verified story is simple: Finolex Cables delivered one of the strongest earnings prints of the Muhurat session, and the market rewarded it with the maximum move the exchange allows in a day.

Sources

Upstox — Finolex Cables shares hit 20% upper circuit on Muhurat Trading after strong Q2 FY27 results
Multibagg — Top Traded by Value Today 08-Nov-2026: Finolex Jumps 19.98%

FAQ

Why did Finolex Cables stock rise 20% today?

Finolex Cables reported a 67% jump in consolidated net profit to ₹273 crore and a 65% rise in revenue to ₹2,269 crore for Q2 FY27, and the stock hit its 20% upper circuit at ₹1,309.20 in the November 8 Muhurat session.

What is an upper circuit?

An upper circuit is the maximum price increase an exchange allows for a stock in one session. Once hit, the price cannot rise further that day, even if buy orders remain unfilled.

How did Finolex Cables perform in the first half of FY27?

Net profit rose 61% to ₹522 crore and revenue rose 54.4% to ₹4,282 crore in H1 FY27, compared with the same period a year earlier.

Is Finolex Cables at a record high?

No. Even after Sunday's 20% jump to ₹1,309.20, the stock remains below its 52-week high of ₹1,499, reached on October 8, 2026.