Archit Organosys extends rally after Standard Greases buys stake

Archit Organosys jumped 7.68% to Rs 50.45 after Standard Greases and Specialities purchased 0.67% stake in the company via bulk deal on Tuesday (8 June).

According to bulk deal data on the BSE, Standard Greases And Specialities acquired 1 lakh shares (equivalent to 0.67% stake) in Archit Organosys yesterday (8 June 2021) at an average price of Rs 46.99 per share.

Standard Greases & Specialities (SGSPL) is the largest private label grease manufacturer in India. It is also one of the leading lubricating grease manufacturers in Asia having a strengthened production base at strategic locations in India.

As on 31 March 2021, SGSPL held 29.35% stake in Tide Water Oil (India), which manufactures and markets Veedol brand of lubricants.

Shares of Archit Organosys have added 27.9% in six sessions, from its recent closing low of Rs 39.45 recorded on 1 June 2021.

On a year-to-date (YTD) basis, the stock has zoomed 136.71% while the benchmark Sensex has added 9.69% during the same period.

Archit Organosys makes a variety of organic chemicals, pigments, specialty derivatives, adhesives & sealants.

The company reported a net profit of Rs 1.53 crore in Q3 FY21 as against a net loss of Rs 0.55 crore in Q3 FY20. Net sales increased by 39.34% YoY to Rs 25.43 crore in Q3 FY21.

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