IOL Chemicals & Pharmaceuticals

The rise in the IOL Chemicals share price came after the company's board of directors approved 1:5 stock split

Company crosses Rs 1,000 crore quarterly revenue mark

OL Chemicals and Pharmaceuticals stock surged up to 4.59 per cent at Rs 415.15 per share on the BSE in Wednesday's intraday trade

Pantoprazole is used for heartburn, acid reflux and gastro-oesophageal reflux disease (GORD)

IOL Chemicals slipped 10% to Rs 487, while Granules was down 8% to 285.80 on the BSE in intra-day trade

The stock hit a new high of Rs 723 during the day, up 16 per cent.

The stock has zoomed 302 per cent from its 52-week low of Rs 147 touched on March 25, 2020.

In the past three months, the stock has zoomed 180 per cent as against 21 per cent rise in the benchmark S&P BSE Sensex.

Foreign portfolio investors increased their holding in IOL Chemicals to 2.61 per cent in March 2020 quarter, from 1.32 per cent at the end of December 2019 quarter.

The stock surpassed its previous high of Rs 316.80, touched on February 27, 2020

The management remains optimistic about growth in the demand of the Ibuprofen and recently launched new products in medium to long term

IOL Chemicals & Pharma rallied 6 per cent to Rs 177 today, surging 122% in the past six months, as compared to a 2.5% rise in the S&P BSE Sensex.