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Meghmani Organics hits record high

Capital Market 

Meghmani Organics surged 10.78% to Rs 99.70 at 12:47 IST on BSE, with the stock hitting record high amid recent rally.

Meanwhile, the S&P BSE Sensex was up 21.52 points or 0.07% at 31,835.74. The S&P BSE Small-Cap index advanced 69.66 points or 0.42% at 16,698.89.

On the BSE, 32.79 lakh shares were traded on the counter so far as against the average daily volumes of 10.30 lakh shares in the past one quarter. The stock had hit a high of Rs 101.40 so far during the day, which is a record high. The stock hit a low of Rs 91.60 so far during the day. The stock had 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 6 October 2017, gaining 11.04% compared with the Sensex's 0.48% rise. The stock had also outperformed the market over the past one quarter, advancing 67.29% as against the Sensex's 1.42% rise. The scrip had also outperformed the market over the past one year, gaining 82.93% as against the Sensex's 13.19% rise.

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

Shares of Meghmani Organics have surged 27.16% in seven trading sessions to its ruling market price, from its close of Rs 78.40 on 27 September 2017.

On a consolidated basis, Meghmani Organics' net profit rose 55.1% to Rs 43.33 crore on 16.8% growth in net sales to Rs 421.21 crore in Q1 June 2017 over Q1 June 2016.

Meghmani Organics is a manufacturer of pigments and agrochemicals. The company specializes in the manufacture of green and blue pigment products that span multiple applications. The company also produces a broad spectrum of commonly used pesticides for crop and non-crop applications.

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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, October 09 2017. 12:46 IST
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