IOL Chemicals drops after recent sharp rally

IOL Chemicals & Pharmaceuticals fell 5.18% to Rs 64.10 at 14:30 IST on BSE, with the stock sliding on profit booking rafter recent rally.

Meanwhile, the S&P BSE Sensex was up 47.87 points, or 0.15% at 31,306.72. The S&P BSE Small-Cap index was down 104.13 points, or 0.67% at 15,363.74.

On the BSE, 39,000 shares were traded on the counter so far as against the average daily volumes of 28,000 shares in the past two weeks. The stock had hit a high of Rs 69.40 and a low of Rs 63.85 so far during the day. The stock had hit a 52-week high of Rs 155.95 on 23 September 2016 and a 52-week low of Rs 48.35 on 28 June 2017.

Shares IOL Chemicals & Pharmaceuticals had rallied 19.75% in the preceding five trading sessions to settle at Rs 67.60 yesterday, 21 August 2017, from its close of Rs 56.45 on 11 August 2017.

IOL Chemicals & Pharmaceuticals' net profit spurted 319.7% to Rs 2.98 crore on 32.9% increase in net sales to Rs 215.31 crore in Q1 June 2017 over Q1 June 2016.

IOL Chemicals & Pharmaceuticals is one of the leading generic pharmaceuticals companies and is significant player in the speciality chemicals space.

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