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Insecticides (India) gains after entering into product marketing agreement

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Insecticides (India) rose 1.46% to Rs 470.90 at 12:32 IST on BSE after the company's announcement that it has entered into an agreement with Hyderabad Chemical Private Limited for marketing the latter's product 'SUZUKA' in India.

Meanwhile, the S&P BSE Sensex was down 232.68 points, or 0.83%, to 27,749.03

On BSE, so far 1,045 shares were traded in the counter, compared with an average volume of 3,095 shares in the past one quarter. The stock hit a high of Rs 478.10 and a low of Rs 461.20 so far during the day. The stock hit a 52-week high of Rs 559.50 on 6 August 2015. The stock hit a 52-week low of Rs 297 on 17 February 2016. The stock had underperformed the market over the past one month till 2 August 2016, falling 5.7% compared with 3.08% rise in the Sensex. The scrip also underperformed the market in past one quarter, gaining 9.9% as against Sensex's 10% rise.

The small-cap company has an equity capital of Rs 20.67 crore. Face value per share is Rs 10.

Hyderabad Chemical Private Limited is a subsidiary of Japan's Nihon Nohyaku Co. Insecticides (India) made the announcement about the product marketing tie up after trading hours yesterday, 2 August 2016.

Insecticides (India)'s net profit dropped 92.2% to Rs 0.48 crore on 10.9% rise in total income to Rs 178.51 crore in Q4 March 2016 over Q4 March 2015.

Insecticides (India) manufactures all types of insecticides, weedicides, fungicides and plant growth regulators (PGRs) for all types of crops and household.

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First Published: Wed, August 03 2016. 12:32 IST