&w=826&resize=826,465&ssl=1 "This Andhra Pradesh inventory has zoomed 51% in 4 days; up 114% since June 5 | Information on Markets")
Illustration by Binay Sinha
Shares Bhagiradha Chemical substances & Industries (BCIL) hit a brand new excessive of Rs 399, as they surged 16 per cent on the BSE in Thursday’s intra-day commerce amid heavy volumes on wholesome enterprise outlook. The inventory of this Andhra Pradesh-based firm, which is engaged in manufacturing of crop safety chemical substances, has zoomed 51 per cent up to now 4 buying and selling days.
At 02:23 pm; BCIL was buying and selling 14 per cent increased at Rs 392.85, as in comparison with 0.06 per cent decline within the BSE Sensex. The common buying and selling volumes on the counter jumped over four-fold. A mixed 4.18 million shares representing 3.4 per cent of whole fairness of the corporate modified palms on the NSE and BSE.
Since June 5, the market value of the corporate has more-than-doubled or skyrocketed 114 per cent after Derive Buying and selling and Resorts Non-public Restricted acquired practically 3.5 per cent stake in BCIL through open market offers.
On June 5, 2024, Derive Buying and selling and Resorts Non-public Restricted bought 4.31 million fairness shares representing practically 3.5 per cent of whole fairness of BCIL for Rs 81.17 crore. Derive Buying and selling purchased the shares at value of Rs 188.49 per share through block deal on the BSE, the change knowledge exhibits. Chetan Shantilal Shah offered his total 4.31 million shares or 3.46 per cent in BCIL in open market through block deal, knowledge exhibits.
In the meantime, BCIL is engaged in manufacturing of agrochemicals like pesticide, insecticide, herbicide and many others. The main merchandise embody Chlorpyriphos – Technical (Tech), Fluroxypyr – Tech, Triclopyr – Tech, Imidacloprid – Tech and Azoxystrobin – Tech. The corporate has been always increasing its product profile by including new merchandise to its ambit.
The demand for agrochemicals within the home market is anticipated to be sturdy with seasonal rainfall throughout India anticipated to be above regular and sowing acreage for key crops anticipated to extend.
With destocking of inventories within the earlier 12 months full, demand is anticipated to set in for the second half of the monetary 12 months which ought to open up alternatives for exports. The corporate is strategically specializing in sure key merchandise and chemistries for funding in backward integration primarily based on market traits, export alternatives, import competitors and home benefit. The corporate could be introducing at the very least 3 new generic merchandise, going ahead, BCIL mentioned in its FY24 annual report.
First Revealed: Jul 25 2024 | 2:58 PM IST
&w=1200&resize=1200,0&ssl=1&description=This+Andhra+Pradesh+inventory+has+zoomed+51%25+in+4+days%3B+up+114%25+since+June+5+%7C+Information+on+Markets){kind=link}