Chemical shares in focus; Thirumalai Chemicals, Keltech Energies up 20%

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (pic: Reuters)
Shares of mid-and-small sized chemicals companies were in focus and rallied by up to 20% on BSE in an otherwise range-bound market.

Thirumalai Chemicals, IG Petrochemicals, Plastiblends (India), Ultramarine Pigments, Vishnu Chemicals, Jayant Agro-Organics, Keltech Energies, Sudarshan Chemical Industries, Punjab Chemicals, Mysore Petrochemcials and  Philips Carbon Black were up 5% to 20% on BSE. The S&P BSE Sensex was trading flat at 27,919 at 01:29 pm.

Total 26 chemical companies so far announced their July-September 2016 (Q2FY17) earnings have reported 45% year on year jump in aggregate net profit of Rs 571 crore. These companies had posted a combined profit of Rs 393 crore in year ago quarter.

Thirumalai Chemicals locked in upper circuit of 20% at Rs 870, also its new high on BSE, on back of an over four-fold jump in trading volumes. A combined 2.45 million shares have already changed hands and there were pending buy orders for 35,445 shares on BSE and NSE.

Since October 19, in past seven trading sessions, the stock rallied 38% from Rs 628, after the company posted a consolidated net profit of Rs 16.39 crore for the quarter ended September 30, 2016 (Q2FY17). It had posted a net loss of Rs 14.94 crore in the same quarter year ago.

Thirumalai Chemicals announced that the upgrading of its fine chemicals & food ingredients units is nearing completion. This will add about 40% capacity by Q4 of the current year in these divisions.

COMPANY LATEST PREV CLOSE GAIN(%)
JAYSHREE CHEM. 13.80 11.50 20.00
THIRUMALAI CHEM. 870.40 725.35 20.00
KELTECH ENERGIES 722.15 601.80 20.00
PLASTIBLENDS (I) 544.00 475.65 14.37
VISHNU CHEMICALS 332.00 290.80 14.17
ULTRAMARINE PIG. 200.00 176.00 13.64
I G PETROCHEMS 294.00 260.35 12.92
DYNEMIC PRODUCTS 96.95 86.85 11.63
JAYANT AGRO ORG. 498.50 453.20 10.00
AKSHARCHEM (I) 631.55 574.15 10.00
MYSORE PETRO 91.10 83.05 9.69
PHILLIPS CARBON 279.60 257.50 8.58
GP PETROLEUMS 86.50 80.20 7.86
JYOTI RESINS 108.30 101.55 6.65
PUNJAB CHEMICALS 213.20 200.10 6.55
SUDARSHAN CHEM. 399.95 376.10 6.34
ADVANCE. ENZYME. 2153.10 2026.30 6.26
SH. HARI CHEM. 92.50 87.70 5.47
EXCEL INDS. 467.10 443.95 5.21
BHAGERIA INDUST. 411.65 392.05 5.00


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