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Shares of chemical firms are on a roll with BASF India, India Glycols, Mysore Petrochemicals and Grauer & Weil (India) rallying up to 16% on the BSE in intra-day trade. Gujarat Alkalies & Chemicals, Goa Carbon, Deepak Nitrite, NOCIL, Oriental Carbon & Chemicals, Phillips Carbon Black, Tata Chemicals and Ultramarine Pigments hit their respective record highs on the BSE. BASF India surged 16% to Rs 1,702 in intra-day trade after analyst at Emkay Share & Stock Brokers initiated coverage of the stock with a 'buy' recommendation. The company, which is a part of BASF SE, the largest chemicals company in the world, is well positioned to deliver solid performance on revenue and profitability front, backed by ramp-up in new capacity utilization and consolidation of niche businesses, according to analyst. Thirteen new product launches in agrochemicals, and localization of many niche products in construction, coatings, plastics and care products are likely to boost high margin manufacturing revenue and reduce dependence on low-margin trading business, it added. Gujarat Alkalies & Chemicals (GACL), the largest independent producer of caustic soda in the country, hit a record high of Rs 606, up 5% on the BSE in early morning trade. The stock has rallied 40% in past one month. According to CARE Ratings, the outlook for the domestic chlor-alkali industry is likely to remain stable in the near-term, mainly on account of expectation of steady demand from its key end-use industries like textile, pulp and paper, aluminum, pharmaceuticals and agrochemicals. As per Centre for Monitoring Indian Economy (CMIE), the demand for caustic soda is expected to increase by around 3% in FY18 driven by likely increase in output of aluminum and paper industry. Profitability in the industry has improved 5MFY18 (April-August) and is expected to remain stable in with better sales realization on the back of healthy demand from the consuming industries. ENZYME.
COMPANY LATEST PREV CLOSE GAIN(%) BASF INDIA 1664.30 1470.95 13.1 INDIA GLYCOLS 282.95 253.60 11.6 JAYSYNTH DYESTUF 78.65 71.65 9.8 TYCHE INDS. 96.00 89.35 7.4 AMAL 136.80 129.15 5.9 GRAUER & WEIL 65.40 62.00 5.5 NATL. OXYGEN 46.30 44.00 5.2 EXCEL INDS. 467.00 443.80 5.2 GOA CARBON 563.95 537.10 5.0 BHAGAWATI OXYGEN 35.70 34.00 5.0 ANDHRA PETROCHEM 41.05 39.10 5.0 KESAR PETROPROD. 57.30 54.60 5.0 LAFFANS PETROCH 22.30 21.30 4.7 GANESH BENZOPL. 95.25 91.10 4.6 ADVANCE. 276.45 264.40 4.6 COMPANY LATEST ALL TIME HIGH PREV HIGH PREV DATE DEEPAK NITRITE 212.60 213.90 211.45 05-Oct-17 GOA CARBON 563.95 563.95 537.10 05-Oct-17 GUJ ALKALIES 592.70 606.40 585.00 05-Oct-17 KANCHI KARPOORAM 116.25 116.35 114.15 05-Oct-17 NOCIL 158.90 161.30 158.45 05-Oct-17 ORIENTAL CARBON 1433.00 1491.95 1450.00 05-Oct-17 PHILLIPS CARBON 938.50 947.70 936.50 04-Oct-17 TATA CHEMICALS 682.95 686.30 677.85 05-Oct-17 ULTRAMARINE PIG. 243.00 245.00 245.00 20-Sep-17