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Insecticides (India) jumps over 5% in two sessions

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Insecticides (India) rose 3.33% to Rs 465.80 at 14:40 IST on BSE, extending yesterday's gains triggered by the company receiving certificate of registration for Herbicide Bispyribac Sodium.

The announcement was made during trading hours yesterday, 16 May 2016. The Insecticides (India) stock rose 2.06% to Rs 450.80 on that day. The stock has risen 5.46% in two sessions from its close of Rs 441.70 on Friday, 13 May 2016.

Meanwhile, the BSE Sensex was up 213.72 points, or 0.83%, to 25,866.95.

On BSE, so far 13,000 shares were traded in the counter, compared with an average volume of 7,743 shares in the past one quarter. The stock hit a high of Rs 475 and a low of Rs 446 so far during the day. The stock hit a 52-week high of Rs 605 on 2 July 2015. The stock hit a 52-week low of Rs 297 on 17 February 2016. The stock had outperformed the market over the past one month till 16 May 2016, rising 7.59% compared with 0.10% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 49.27% as against Sensex's 10.61% rise.

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

Insecticides (India) said that it received the certificate of registration for Herbicide Bispyribac Sodium Technical 95% w/w Min. and Bispyribac Sodium 10% w/v SC -Bispyribac Sodium (TIM)-04 and CIR-1895/2016(365) - Bispyribac Sodium (SC)-05 under Section 9(3) of the Insecticides Act, 1968.

The company said that its brand for Bispyribac Sodium 10% w/v SC would be Green Label.

Insecticides (India)'s net profit dropped 87.8% to Rs 1.02 crore on 3.8% rise in total income to Rs 154.70 crore in Q3 December 2015 over Q3 December 2014.

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

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First Published: Tue, May 17 2016. 14:36 IST
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