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Jyothy Labs, TAKE Solutions, Tata Elxsi hit new high

Bajaj Finance, United Breweries, VIP Industries, Astec Lifesciences and MM Forgings were eight stocks from the S&P BSE 500 and Smallcap index hitting their respective new highs on the BSE

SI Reporter  |  Mumbai 

Jyothy Labs, TAKE Solutions, Tata Elxsi hit new highs

Shares of Jyothy Laboratories, TAKE Solutions, Tata Elxsi, Bajaj Finance, United Breweries, VIP Industries, and MM Forgings were eight stocks from the S&P BSE 500 and Smallcap index that hit their respective new highs on the BSE in intra-day trade on Tuesday.

Jyothy Labs rallied 11% to Rs 487, surpassed its previous high of Rs 470 recorded on May 17, 2018 in intra-day trade.

In past one month the stock surged 34% after the board has recommended issue of bonus shares in the ratio of 1:1 i.e. one bonus share for every one share held on the record date. On comparison, the S&P BSE Sensex gained marginally by 0.03% during the period.

The company had reported a strong operational performance in March 2018 quarter (Q4FY18) with EBIDTA (earnings before interest, tax, depreciation and amortization) margin 330 bps to 17.1% from 13.8% (on GST adjusted sales) in previous year quarter.

The long term growth story of the company on account of increase in penetration (for dishwash, house insecticide, naturals products) and premiumisation remains intact. We are confident on the back of the company’s strong performance in back-to-back quarters and believe dishwashing products Exo & Pril and natural product like Margo provide a growth opportunity in their respective space. Simultaneously its forays into toilet clearer opens new revenue stream for the company, analysts at ICICI Securities said result update.

soared 12% to Rs 284, rallied 34% since May 17, post Q4FY18 results. The company reported a strong growth in life sciences 30.3% Y-o-Y and 8.37% CQGR over last 12 quarters.

Srinivasan HR, Vice Chairman and Managing Director, said, "Financial year 2018 has been a positive year for with continued strong performance in life sciences business in terms of profitability, customer track record and recognition.

Looking ahead, we have a healthy pipeline of new business opportunities in India and we plan to carry this momentum through the year. We are keen to pursue strategic acquisitions in North America and Europe, funded by our recent preferential allotment of shares, to capitalize on our opportunities and scale our business in the high-growth Clinical and Regulatory spaces, he added.

The company had raised Rs 2.5 billion by allotting 14.69 million equity shares to promoter – TAKE Solutions Pte – at Rs 170.10 per share on preferential basis.

COMPANY LATEST ALL TIME HIGH PREV HIGH PREV DATE
BAJAJ FIN. 2262.00 2268.25 2253.60 11-Jun-18
JYOTHY LAB. 473.50 486.90 470.00 17-May-18
TAKE SOLUTIONS 274.40 283.80 261.00 01-Jun-18
TATA ELXSI 1265.50 1269.50 1257.65 30-May-18
UNITED BREWERIES 1280.35 1295.00 1290.75 11-Jun-18
V I P INDS. 442.00 448.00 445.00 11-Jun-18
ASTEC LIFE 770.95 782.50 770.00 03-May-18
M M FORGINGS 1290.00 1310.00 1292.30 29-May-18

First Published: Tue, June 12 2018. 11:57 IST
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