Monsanto India has soared 18% to Rs 2,423, extending its previous day’s rally on the BSE, on back of heavy volumes. In past two trading sessions, the stock zoomed 33% from Rs 1,818 on May 10.
The trading volumes on the counter jumped an over 10-fold with a combined 815,269 shares changed hands on the NSE and BSE till 10:52 am.
Monsanto India is schedule to announce its January-March 2016 quarter (Q4FY16) results on May 30, 2016.
Motilal Oswal Securities expects Q4FY16 Ebitda (earnings before interest, tax, depreciation, and amortisation) margins at 5% and Ebitda at Rs 3.4 crore as against a negative Ebitda of Rs 10.40 crore in Q4FY15.
Atul hit a 52-week high of Rs 2,035, up 3%; extending its 8% gain in past eight trading sessions post Q4 results.
A diversified chemical company from the Lalbhai Group, Atul has reported 40% year on year (YoY) growth in net profit at Rs 63 crore for the quarter ended March 31, 2016 (Q4FY16).
The company’s crop protection division manufactures fungicides, herbicides and weedicides, posted robust growth in FY16.
“Management highlighted that FY16 was relatively better than FY15 for its portfolio of products. With expectations of better monsoons in India, management’s outlook for FY17 is promising,” IIFL Institutional Equities said in a results update.
Sharda Cropchem has rallied 6% to Rs 299 on the BSE in intra-day trade. Emkay Research believes the company is well poised to record healthy growth in Q4 driven by commencement of sowing season in key markets
of Europe and NAFTA where it has a strong presence. Change in geographic mix and richer product mix led by new registrations coupled with benign RM cost should aid margin expansion.
Bayer CropScience too moved higher to its 52-week high of Rs 4,155, up 5% on the BSE ahead of board meeting on May 13 to consider Q4 FY16 results.