Pidilite Industries hits record high of Rs 1,239; stock surges 5%

Pidilite Industries shares hit a record high of Rs 1,239, up 5 per cent, in intra-day trade on the BSE on Tuesday, on the expectation of healthy earnings growth. The stock of specialty chemicals surpassed its previous high of Rs 1,209 reported on December 19, 2018 in intra-day deal.

During the October-December quarter (Q3FY19), Pidilite Industries had reported 20 per cent year-on-year (YoY) growth in consolidated net sales at Rs 1,838 crore. Net profit, however, declined 8 per cent at Rs 220 crore on YoY basis. Operating margin declined 382 bps at 20.8 per cent from 24.6 per cent in