Omkar Speciality gains after unit at Chiplun gets environment clearance

Omkar Speciality Chemicals rose 1.45% to Rs 237.50 at 14:25 IST on BSE after the company said that it has received environment clearance for its manufacturing unit-V located at Chiplun, Taluka Khed, District, Ratnagiri, Maharashtra.

The announcement was made by the company during market hours today, 12 January 2016.

Meanwhile, the BSE Sensex was down 169.58 points, or 0.68%, to 24,655.46.

On BSE, so far 61,500 shares were traded in the counter, compared with an average volume of 81,794 shares in the past one quarter. The stock hit a high of Rs 242 and a low of Rs 229.70 so far during the day. The stock hit a record high of Rs 248.80 on 6 January 2016. The stock hit a 52-week low of Rs 138 on 30 April 2015. The stock had outperformed the market over the past one month till 11 January 2016, rising 14.87% compared with 0.88% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 20.48% as against Sensex's 8.33% decline.

The small-cap company has an equity capital of Rs 20.58 crore. Face value per share is Rs 10.

Omkar Speciality Chemicals said that the production at the unit shall commence in phased manner. In phase I, the company plans to produce vitamin C & folic acid.

On consolidated basis, Omkar Speciality Chemicals' net profit rose 40.8% to Rs 9.01 crore on 51.6% rise in net sales to Rs 101.25 crore in Q2 September 2015 over Q2 September 2014.

Omkar Speciality Chemicals is a manufacturer of intermediates and active pharmaceuticals ingredients (APIs).

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