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National Peroxide corrects after 16% jump in four sessions

Capital Market 

National Peroxide fell 0.79% to Rs 1986.40 on profit booking after a recent rally.

The stock jumped 16% in four sessions to end at Rs 2002.20 on Tuesday from a recent closing low of Rs 1725.85 recorded on 8 January 2020.

National Peroxide on Tuesday stated that expansion of its plant at Kalyan, Maharashtra is under progress and is expected to be commissioned around last week of January. The plant had shutdown in September 2019 for about 90 days for expansion of production capacity.

National Peroxide (NPL) is a pioneer in India for peroxygen chemicals and is the largest manufacturer of Hydrogen Peroxide in India.

On a consolidated basis, the chemical maker's net profit fell 89.6% to Rs 5.78 crore on a 57.4% decline in net sales to Rs 54.79 crore in Q2 September 2019 over Q2 September 2018.

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

First Published: Wed, January 15 2020. 12:13 IST