Excel Crop hits upper circuit

Excel Crop Care had yesterday breached the lower circuit at Rs.288.40 and today, it has breached the upper circuit at Rs.307.75.

The stock has turned around on the bourses on the back of two factors – Q2FY14 numbers and the CAT orders.

First the Competition Appellate Tribunal (CAT) order.  has pronounced an order on the company's appeal challenging the penalty of Rs 63.90 crore imposed by the Competition Commission of India on it. The Tribunal has reduced the amount of the penalty to Rs 2.91 crore, which is a reduction of 90%.

And then the Q2FY14 numbers wherein the company reported a whopping 3 times (YoY) surge in its net profit at Rs.23.24 crore on a 30% jump in net sales at Rs.269 crore.