Excel Crop in the green

Excel Crop Care which has had hit a new 52-week high yesterday at Rs.289.40, locked on the 5% circuit, is today also in the green. It hit another new 52-week high today at Rs.303. Though it has come off these levels, it remains in the green.

The stock has been hitting this high consistently after the company announced yesterday that its Board will be meeting on 30th Oct, to consider a scheme of arrangement between the company and Gujarat-based TML Industries for the transfer of the chemical business of TML to Excel Crop Care. The company will also consider Q2 numbers and expectations are running high following its 79% (YoY) jump in net profit for Q1.