Balaji Amines on super run
By
Research Desk
about 9 years ago
Balaji Amines is literally on fire today. The stock has surged 19% intra day to Rs.166.70, tantalizing close to its 52-week high of Rs.168.40. Volumes are up around 18 times.
This sudden perk up in the price of the stock is on account of its Q3FY16 performance. The company posted a 59% (YoY) rise in operating profit and net profit was up 117% at Rs.13 crore.
Its main fray is amines which has a 58% market share, which showed a stable performance but it was its hotels unit which did very well – With a 5-star hotel in Solapur, revenue rose 57% (YoY) while EBIT was at Rs.22 lakh v/s loss of Rs.40 lakh in previous Q3.
The company is the largest manufacturer of aliphatic amines in India with market share of over 58%.