Thirumalai Bucks The Trend

Previous weeks close:Rs 58.50

During the week, price of the scrip went up by 17.95 per cent. The rise is attributed to two factors by market players. One, the scrip was available at a P/E of less than four despite being fundamentally sound.

The reason for this was anxiety about the price of its products Phthalic anhydride and maleic anhydride.

A couple of months ago the company was forced to cut the price of phthalic by Rs 3,000 per tonne.

Due to improved market conditions, the company has hiked the price of both the products.

Prices of phthalic has been hiked by Rs 3,000 per tonne to Rs 35,000 per tonne and maleic by Rs 5,000 per tonne to Rs 30,000 per tonne effective from October.

 

Second, the company has started trading in Orthoxylene, as IPCL has stopped the production. The expanded capacity will go on stream in December.