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Meghmani Organics gains after facility gets compliance certificate

Capital Market 

Meghmani Organics rose 2.30% to Rs 111 at 14:58 IST on BSE after the company said its laboratory facility in Gujarat received compliance certificate from NGCMA.

The announcement was made during trading hours today, 20 November 2017.

Meanwhile, the S&P BSE Sensex was up 35.72 points, or 0.11% to 33,378.52.

On the BSE, 6.65 lakh shares were traded in the counter so far, compared with average daily volumes of 12.22 lakh shares in the past one quarter. The stock had hit a high of Rs 112.05 and a low of Rs 107.20 so far during the day. The stock hit a record high of Rs 129.40 on 7 November 2017. The stock hit a 52-week low of Rs 34.10 on 22 November 2016.

The stock had outperformed the market over the past one month till 17 November 2017, rising 7.37% compared with 2.94% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 45.64% as against Sensex's 5.77% rise. The scrip had also outperformed the market in past one year, rising 184.03% as against Sensex's 27.50% rise.

The small-cap company has equity capital of Rs 25.43 crore. Face value per share is Re 1.

Meghmani Organics said that its laboratory facility situated at Ahmedabad in Gujarat received certificate of Good Laboratory Practice (GLP) compliance on 18 November 2017 from National Good Laboratory Practice (GLP) Compliance Monitoring Authority (NGCMA), Department of Science and Technology, Government of India. The certificate is valid till 17 October 2020.

On a consolidated basis, net profit of Meghmani Organics rose 69.40% to Rs 55.09 crore on 18.72% rise in net sales to Rs 460.66 crore in Q2 September 2017 over Q2 September 2016.

Meghmani Organics makes pigment and pesticide products.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, November 20 2017. 15:06 IST