Punjab Alkalies jumps after board approves stock split

Punjab Alkalies & Chemicals rose 3.91% to Rs 227.50 after the company said its board approved 5-for-1 stock split.

The company's board approved sub-division of each equity share of face value of Rs 10 each into five equity shares of face value of Rs 2 each, subject to the approval of shareholders.

Punjab Alkalies & Chemicals makes caustic soda lye and by products are hydrochloric acid, liquid chlorine, sodium hypochlorite and hydrogen gas.

The company reported a net loss of Rs 37.28 crore in Q2 September 2021 as against net profit of Rs 3.41 crore in Q2 September 2020. Sales rose 54.98% YoY to Rs 87.02 crore in Q2 FY22.

 

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