Bayer Crop strongly in green

Bayer Cropscience is on a roll today. From yesterday’s closing of Rs.1803, it opened itself with a big gap at Rs.1925, going on to hit  new high at Rs.2045. Volumes were up almost 8 times.

The stock has hit a new high on the back of its very good performance for Q1FY15. It recorded a 24% (yoY) growth in its net profit at Rs.109 crore mainly on account of higher sales – net sales for the quarter rose by a smart 21% at Rs.1172 crore. Keeping a tight control on costs too helped as its operating profit also come in pretty strong at Rs.1482 crore, up 26%.