Chemfab Alkalis hits record high after stellar Q1 results

Chemfab Alkalis was locked at 10% upper circuit at Rs 207.95 at 13:14 IST on BSE after net profit surged 294.3% to Rs 6.19 crore on 32.6% growth in net sales to Rs 30.36 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 21 July 2016.

Meanwhile, the S&P BSE Sensex was up 69.49 points or 0.25% at 27,780.01.

On BSE, so far 53,000 shares were traded in the counter as against average daily volume of 22,635 shares in the past one quarter. The stock's current price of Rs 207.95 so far during the day, which is a record high for the counter. The stock hit a low of Rs 205 so far during the day. The stock had hit a 52-week low of Rs 65.75 on 25 February 2016. The stock had outperformed the market over the past one month till 21 July 2016, surging 60.89% compared with Sensex's 3.35% rise. The scrip had also outperformed the market in past one quarter, advancing 123.07% as against Sensex's 7.07% rise.

The small-cap company has equity capital of Rs 4.59 crore. Face value per share is Rs 5.

Chemfab Alkalis is engaged in manufacturing inorganic chemicals. The company offers chlor alkali and related products/services.

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