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Punjab Chemicals extends Wednesday's gains

Capital Market 

Chemicals & Crop Protection rose 2.59% to Rs 455.60 at 13:01 on BSE, with the stock extending Wednesday's gains triggered by the company's announcement of fund raising proposal along with Q2 announcement tomorrow, 8 December 2017.

Meanwhile, the S&P Sensex was up 198.98 points or 0.61% at 32,796.16. The S&P Small-Cap index rose 0.89%, outperforming the Sensex.

On the BSE, 4,537 shares were traded on the counter so far as against the average daily volumes of 5,581 shares in the past one quarter. The stock had hit a high of Rs 464 and a low of Rs 449 so far during the day. The stock had hit a record high of Rs 478 yesterday, 6 December 2017 and a 52-week low of Rs 210 on 6 December 2016.

The stock had outperformed the market over the past one month till 6 December 2017, advancing 10.6% compared with the Sensex's 3.36% fall. The stock had also outperformed the market over the past one quarter, gaining 18.3% as against the Sensex's 2.95% rise. The scrip had also outperformed the market over the past one year, advancing 102.23% as against the Sensex's 23.51% rise.

The small-cap company has equity capital of Rs 12.26 crore. Face value per share is Rs 10.

Shares of Chemicals & Crop Protection have risen 7.21% in two trading sessions to its ruling market price, from its closing of Rs 424.95 on 5 December 2017, after the company said after market hours on 5 December 2017 that its board of directors will meet tomorrow, 8 December 2017 to consider the option to raise long term resources through various means. The stock had risen 4.51% to settle at Rs 444.10 yesterday, 6 December 2017.

Chemicals & Crop Protection is scheduled to announce Q2 September 2017 tomorrow, 8 December 2017. The company's net profit jumped 124.2% to Rs 5.56 crore on 17.5% rise in net sales to Rs 105.87 crore in Q1 June 2017 over Q1 June 2016.

From manufacturing basic chemicals such as oxalic acid, Chemicals & Crop Protection is a agrochemicals & formulations company with synergistic pharma, industrial chemicals & international trading divisions.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 07 2017. 12:59 IST
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