Neogen Chemicals trades at 52-week high; stock jumps 16%

The stock, which got listed on the bourses on May 8, 2019, has rallied 57% against its issue price of Rs215 per share.

Jun 12, 2019 09:06 IST India Infoline News Service

Shares of Neogen Chemicals hit a 52-week high of Rs364.50 on the BSE in an otherwise weak market. The stock, which got listed on the bourses on May 8, 2019, has rallied 57% against its issue price of Rs215 per share.

The company’s net profit rose 26.6% to Rs8.75cr in the quarter ended March 2019 as against Rs6.91cr during the previous quarter ended March 2018. The sales of the company also increased by 35.47% to Rs79.83cr in the quarter ended March 2019 as against Rs58.93cr during the previous quarter ended March 2018.

Neogen Chemicals Ltd is currently trading at Rs356.90, up by Rs49.6 or 16.14%, from its previous closing of Rs307.30 on the BSE. The scrip opened at Rs310 and has touched a high and low of Rs364.50 and Rs308, respectively.

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