Laxmi Organic hits new high; stock zooms 52% in 3 weeks on robust Q1 show

The stock has 219 per cent against its issue price of Rs 130 per share

Shares of Laxmi Organic Industries surged 8 per cent to hit a new high of Rs 414.05 on the BSE in intra-day trade on Friday in an otherwise range-bound market. The stock of the specialty chemicals company was trading at the highest level since its listing on March 25, 2021.

In the past three weeks, the market price of Laxmi Organics has soared 52 per cent after the company delivered a robust financial performance for the quarter ended June 2021 (Q1FY22). With the past three weeks' rally, the stock has zoomed 219 per cent against its issue price of Rs