Bayer CropScience slips on profit booking

Meanwhile, the BSE Sensex was up 26.47 points, or 0.14%, to 19,331.79.

On BSE, 2,223 shares were traded in the counter as against an average daily volume of 1.05 lakh shares in the past one quarter.

The stock hit a high of Rs 1,292.85 and a low of Rs 1,249 so far during the day. The stock had hit a record high of Rs 1,341.80 on 3 December 2012. The stock had hit a 52-week low of Rs 673.05 on 23 December 2011.

The stock had outperformed the market over the past one month till 3 December 2012, rising 12.83% compared with the Sensex's 2.93% rise. The scrip had also outperformed the market in past one quarter, gaining 29.01% as against Sensex's 11.05% rise.

 

The mid-cap company has equity capital of Rs 39.50 crore. Face value per share is Rs 10.

The recent rally in Bayer CropScience was triggered by the company's announcement during trading hours on 29 November 2012, that it received the balance consideration of Rs 730 crore from Agile Real Estate (Agile) from sale of the company's property at Thane in Maharashtra.

Bayer CropScience had entered into a non-binding and exclusive arrangement with Agile on 31 March 2011, for the sale of the company's property at Thane. The company had received a sum aggregating to Rs 520 crore from Agile as earnest money and advance for this exclusive deal.

Bayer CropScience's net profit rose 16.4% to Rs 97.85 crore on 12.4% growth in net sales to Rs 800.10 crore in Q2 September 2012 over Q2 September 2011.

Bayer CropScience is one of the world's leading crop science companies in the areas of crop protection, non-agricultural pest control, seeds and traits. The company offers a range of products and backup for modern, sustainable agriculture and for non-agricultural applications.

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