Clariant Chem up 19%

Clariant Chemicals, which is the top gainer on the BSE since the opening bell today is doing well on the back of a liberal interim dividend and good earning for Q3FY21. The stock opened itself over 19% higher at Rs.467, just a tad away from its 20% UC of the day at Rs.469.85. Volumes are up over 4x.

The company posted an over 7% (YoY) rise in total income at Rs.205 crore and with a 4% drop in total expenses, it ended the quarter with a net profit at Rs.13 crore v/s Rs.3 crore (YoY).

In Q2FY21, a write back of tax to the tune of Rs.76 crore helped the company end the quarter with a net profit of Rs.192 crore.

The market is happier with the dividend news. The Board approved the payment of second interim dividend at Rs 50/share or 500% for FY21. This is to be paid on or after February 23, 2021. It has fixed February 2 as the record date for ascertaining the eligible shareholders to receive the dividend.