Apcotex Industries hits the roof after strong Q1 results

Apcotex Industries hit an upper circuit limit of 20% at Rs 223.20 at 11:13 IST on BSE after net profit rose 48.45% to Rs 5.76 crore on 37.16% rise in net sales to Rs 102.50 crore in Q1 June 2014 over Q1 June 2013.

The result was announced after market hours on Thursday, 31 July 2014.

Meanwhile, the BSE Sensex was down 132.54 points, or 0.51%, to 25,762.43.

On BSE, so far 98,000 shares were traded in the counter, compared with an average volume of 8,160 shares in the past one quarter.

The stock was currently frozen at a record high level. The stock hit a low of Rs 197 in early trade. The stock hit a 52-week low of Rs 102 on 29 August 2013.

The stock had underperformed the market over the past one month till 31 July 2014, falling 0.45% compared with 1.89% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 44.52% as against Sensex's 15.51% rise.

The small-cap company has an equity capital of Rs 5.22 crore. Face value per share is Rs 5.

Apcotex Industries is one of the leading producers of performance emulsion polymers in India. its product range includes VP latex, carboxylated and non-carboxylated SB latexes, acrylic latexes, nitrile latex and synthetic rubber.

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