Punjab Chemicals & Crop Protection shares surged almost 19% after its Q1 results for FY21:
Punjab Chemicals & Crop Protection: It is one of the largest chemical manufacturing companies in India located in Mumbai. However, the company works under Excel Industries and the Punjab State Industrial Development Corporation. Initially, the company was also known as Punjab Chemicals & Pharmaceuticals and later it renamed Punjab Chemicals & Crop Protection Limited. The company manufactures diethyl oxalate (DEO) and oxalic acid.
Meanwhile, on Wednesday, August 12th, the company shares surged almost 19% in the stock market. The main reason for this is due to the company reported its Q1 results for the Financial Year 2020-21. The company’s standalone net profit increased by 80% Year-on-Year (YoY) to Rs. 11.20 crores in this quarter ended on June 30th. The company also posted its consolidated net profit of Rs. 6.20 crores in the same quarter last financial year.
Besides, the company’s total revenue from operations during this quarter decreased by 22% Year-on-Year (YoY) to Rs. 132.20 crores in Q1FY21. The company also reported its total revenue of Rs. 169.40 crores in the same period last financial year.
On the other side, the company’s EBITDA for this quarter increased by 30.60% to Rs. 22.10 crores. While the companies EBITDA margin stood at 16.70% Year-on-Year (YoY).
Whereas the company shares reached an almost 52-week high at Rs. 588.70 on August 19th, 2019. While the shares of the company touched its 52-week low at Rs. 234.40 on March 25th, 2020.
However, the shares of Punjab Chemicals & Crop Protection Limited reported a bullish trend in the stock market on Wednesday. The company gained 83.65 points with an 18.83% increase and reached 528.00 INR. While in BSE, the company gained 79.25 points with a 17.72% increase and reached 526.50 INR.
Stock Market August 12th:
On Wednesday, both Sensex and Nifty reported a bearish trend in the stock market after bullish reports from the last three sessions. The Sensex is trading below 38,400 levels and Nifty is trading below 11,400 levels in the stock market. The Sensex lost 37.38 points with a 0.097% decrease and reached a 38,369.63 level. While Nifty lost 14.10 points with a 0.12% decrease and reached 11,308.40 level.
On the other side, the number of coronavirus cases in India reached 23,29,638 as of Wednesday, August 12th, and deaths reached 46,091.
In the border market, the S&P BSE SmallCap reported a bearish trend in the stock market on Wednesday. It lost 3.14 points with a 0.023% decrease and reached a 13,834.12 level. The S&P BSE Midcap lost 37.70 points with a 0.26% decrease and reached a 14,354.67 level. While Nifty Bank gained 36.80 points with a 0.17% increase and reached 22,264.00 level.
Top Gainers on August 12th: HCL Technologies, SBI, Eicher Motors, Tech Mahindra, and Tata Motors are the top gainers in today’s stock market.
Top Losers on August 12th: Kotak Mahindra Bank, Cipla, Britannia Industries, Hindalco Industries, and BPCL are the top losers in today’s stock market.