This smallcap stock has zoomed 104% in 4 months; posts strong Q1 results

In the past 13 trading days, Styrenix Performance surged 39% after the promoter Shiva Performance Materials sold 2.9 million shares representing 16.49% stake on June 27, by way of market sale.

Shares of Styrenix Performance Materials hit a new high of Rs 2,729 as they surged 15 per cent on the BSE in Tuesday’s intra-day trade after the company reported healthy results for the quarter ended June 2024 (Q1FY25).

For Q1FY25, the specialty chemicals company posted a 88.6 per cent year-on-year (YoY) growth in profit after tax at Rs 61.20 crore, against Rs 32.4 crore in the corresponding quarter of the previous fiscal. Sales revenue grew 28.5 per cent YoY at Rs 698.70 crore from Rs 543.80 crore in Q1FY24. Earnings before interest, taxes, depreciation, and amortization (ebitda)