Bayer CropScience shares surge almost 9% after its Q1 results for FY21:
Bayer CropScience: It is a German pharmaceutical and life science company located in Leverkusen, Germany. Whereas the company provides services to human and veterinary pharmaceuticals, consumer healthcare products, agricultural chemicals, seeds, and biotechnology products. The company was founded by Friedrich Bayer and the present CEO of the company is Werner Baumann.
Meanwhile, on Friday, August 7th, the company shares surged almost 9% in the stock market. The main reason for this is due to its Q1 results for the Financial Year 2020-21. The company’s standalone net profit increased by 86.03% to Rs. 251.70 crores in this quarter ended on June 30th. The company also posted its standalone net profit of Rs. 135.30 crores in the same quarter last financial year.
Besides, the company’s total revenue from operations increased by 29.14% to Rs. 1,227.80 crores YoY in Q1FY21. The company also reported its revenue of Rs. 950.40 crores in the same period last year. The companies expenditure stood at Rs. 599.40 crores as against Rs. 505.90 crores in the same period last year.
On the other side, the companies EBITDA for this quarter increased by 54.36% to Rs. 340.20 crores as against Rs. 220.40 crores in the same period last financial year. While the companies earning per share (EPS) increased to Rs. 56.01 as against Rs. 30.11 in the same quarter last year.
However, the shares of Bayer CropScience Limited reported a bullish trend in the stock market on Friday. The company gained 497.55 points with an 8.83% increase and reached 6,130.00 INR. While in BSE, the company gained 505.95 points with an 8.98% increase and reached 6,139.00 INR.
Stock Market August 7th:
On Friday, both Sensex and Nifty continues its bullish trend in the stock market from the last three sessions. The Sensex is trading above 38,000 levels and Nifty is trading below 11,200 levels in the stock market. The Sensex gained 15.12 points with a 0.040% increase and reached a 38,040.57 level. While Nifty gained 13.90 points with a 0.12% increase and reached 11,214.05 level.
On the other side, the number of coronavirus cases in India reached 20,88,611 as of Saturday, August 8th, and deaths reached 42,518.
In the border market, the S&P BSE SmallCap reported a bullish trend in the stock market on Friday. It gained 106.46 points with a 0.78% increase and reached a 13,668.69 level. The S&P BSE MidCap gained 202.02 points with a 1.44% increase and reached a 14,218.87 level. While Nifty Bank gained 111.40 points with a 0.51% increase and reached 21,754.00 level.
Top Gainers on August 7th: Asian Paints, Bajaj Finance, UPL, IndusInd Bank, and Bajaj Finserv are the top gainers in today’s stock market.
Top Losers on August 7th: Titan Company, HCL Technologies, Infosys, M&M, and Sun Pharma are the top losers in today’s stock market.