Shares in Polychem has surged 10% to Rs 636, extending its past four days rally on BSE, in otherwise subdued market. The stock is currently trading at its record high on BSE.
The company engaged in commodity chemicals business has seen its market price zoomed by 91% in past one week from Rs 340 on July 3, 2014. The benchmark S&P BSE Sensex has declined 1.5% during the period.
With reference to increase in price, Polychem has clarified to BSE that there is no other information/announcement (including pending announcement) which may have bearing on the price/ volume behavior in the scrip.
Meanwhile, the promoters held 48.53% stake in Polychem as of March 2014. Out of 51.47% public shareholding, majority or 38.05% stake held by the individual shareholders, followed by bodies corporate (9.07%) and insurance companies (3.84%), data shows.
The company engaged in commodity chemicals business has seen its market price zoomed by 91% in past one week from Rs 340 on July 3, 2014. The benchmark S&P BSE Sensex has declined 1.5% during the period.
With reference to increase in price, Polychem has clarified to BSE that there is no other information/announcement (including pending announcement) which may have bearing on the price/ volume behavior in the scrip.
Meanwhile, the promoters held 48.53% stake in Polychem as of March 2014. Out of 51.47% public shareholding, majority or 38.05% stake held by the individual shareholders, followed by bodies corporate (9.07%) and insurance companies (3.84%), data shows.
Polychem had reported a turnaround results for the quarter and financial year ended March 31, 2014 (FY14). The company posted net profit of Rs 1.44 crore in FY14 as against loss of Rs 0.47 crore.