Southern Petrochemicals climbs up on stellar Q3 results

Southern Petrochemicals Industries Corporation rose 2.3% to Rs 40 at 11:13 IST on BSE after net profit galloped 400.9% to Rs 17.48 crore on 23.7% rise in net sales to Rs 524.89 crore in Q3 December 2017 over Q3 December 2016.

The result was announced during market hours today, 8 February 2018. The stock had jumped 7.42% to Rs 39.10 ahead of the results yesterday, 7 February 2018.

Meanwhile, the S&P BSE Sensex was up 421.88 points, or 1.24% at 34,504.59. The S&P BSE Small-Cap Index was up 385.41 points, or 2.17% at 18,117.04, outperforming the Sensex.

On the BSE, 1.62 lakh shares were traded on the counter so far as against the average daily volumes of 3.61 lakh shares in the past on quarter. The stock had hit a high of Rs 40.65 and a low of Rs 39.50 so far during the day. The stock had hit a 52-week high of Rs 58 on 5 January 2018. The stock had hit a 52-week low of Rs 20.50 on 9 March 2017.

The stock had underperformed the market over the past one month till 7 February 2018, dropping 27.66% compared with 0.21% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 8.54% as against Sensex's 2.13% rise. The scrip had, however, outperformed the market in past one year, advancing 71.12% as against Sensex's 20.28% rise.

The small-cap company has equity capital of Rs 220.71 crore. Face value per share is Rs 10.

Southern Petrochemical Industries Corporation (SPIC) is a fertilizer manufacturing company located at Thoothukudi in Tamil Nadu. It is a joint venture founded by Dr M A Chidambaram and Tamil Nadu Industrial Development Corporation (TIDCO), a state-owned industrial development institution.

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