NGL Fine Chem jumps after expansion of production capacity

NGL Fine Chem rose 7.39% to Rs 340 at 14:45 IST on BSE after the company said it is expanding production capacity by incurring total capital outlay of Rs 30 crore.

The announcement was made after trading hours yesterday, 5 October 2017.

Meanwhile, the S&P BSE Sensex was up 171.71 points, or 0.54% to 31,763.74.

On the BSE, 13,000 shares were traded in the counter so far, compared with average daily volumes of 4,782 shares in the past one quarter. The stock had hit a high of Rs 349.90 and a low of Rs 325 so far during the day. The stock hit a record high of Rs 470 on 1 August 2017. The stock hit a 52-week low of Rs 251.50 on 17 November 2016.

The stock had underperformed the market over the past one month till 5 October 2017, falling 3.05% compared with 0.22% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 19.35% as against Sensex's 0.74% rise. The scrip had also underperformed the market in past one year, falling 2.60% as against Sensex's 12.40% rise.

The small-cap company has equity capital of Rs 3.09 crore. Face value per share is Rs 5.

NGL Fine Chem announced that it is expanding its production capacity by incurring total capital outlay of Rs 30 crore. The plant is ready for production and trial production runs commenced from 23 September 2017.

NGL Fine Chem's net profit fell 61.2% to Rs 1.60 crore on 12.3% fall in net sales to Rs 21.11 crore in Q1 June 2017 over Q1 June 2016.

NGL Fine-Chem is a manufacturer of pharmaceuticals and intermediates for usage in veterinary and human health.

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