IOL Chemicals spurts 26% in four sessions

IOL Chemicals & Pharmaceuticals jumped 10.48% to Rs 296.45, rising for the fourth consecutive session.

The stock has surged 26.42% in last four trading sessions from its previous closing low of Rs 234.50 registered on 19 February 2020.

Shares of IOL Chemicals & Pharmaceuticals were in demand after media houses reported that shutdown in China's Hubei province is boosting prices of non prescription painkiller. IOL Chemicals & Pharmaceuticals is reportedly world's largest producer of ibuprofen. Ibuprofen is a synthetic compound used widely as an analgesic and anti-inflammatory drug.

On a standalone front, IOL Chemicals & Pharmaceuticals reported a 19.2% jump in net profit to Rs 98.01 crore on a 6.9% rise in net sales to Rs 511.25 crore in Q3 December 2019 over Q3 December 2018.

 

IOL Chemicals & Pharmaceuticals is one of the leading generic pharmaceuticals companies and is significant player in the speciality chemicals space.

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