Insecticides (India) gains after entering into agreement with US-based firm

Insecticides (India) rose 1.36% to Rs 489 at 12:04 IST on BSE after the company entered into an agreement with US based Momentive Performance Materials Inc. for distribution of the latter's product AGROSPRED MAX on exclusive basis in India.

The announcement was made after trading hours on Tuesday, 5 July 2016. The stock market was closed yesterday, 6 July 2016, for a public holiday.

Meanwhile, the BSE Sensex was up 20.83 points, or 0.08%, to 27,187.70

On BSE, so far 5,852 shares were traded in the counter, compared with an average volume of 5,381 shares in the past one quarter. The stock hit a high of Rs 499 and a low of Rs 488 so far during the day. The stock hit a 52-week high of Rs 598.50 on 7 July 2015. The stock hit a 52-week low of Rs 297 on 17 February 2016. The stock had outperformed the market over the past 30 days till 5 July 2016, rising 9.21% compared with Sensex's 1.45% rise. The scrip also outperformed the market in past one quarter, gaining 42.23% as against Sensex's 9.1% rise.

The small-cap company has an equity capital of Rs 20.67 crore. Face value per share is Rs 10.

Insecticides (India)'s net profit dropped 92.23% to Rs 0.48 crore on 10.86% rise in total income to Rs 178.51 crore in Q4 March 2016 over Q4 March 2015.

Insecticides (India) manufactures all types of insecticides, weedicides, fungicides and plant growth regulators (PGRs) for all types of crops and household.

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