India Gycols hits new high

India Gycols is among the top five gainers on the BSE since the opening bell. The stock opened over 3.5% higher at Rs.572 and went on to hit a new high at Rs.632.75, up over 14.5% with an almost 8 times jump in volume.

The stock has reacted strongly to its Q4FY21 earnings, wherein, it reported a 296% (YoY) jump in consolidated net profit at Rs.71 crore on a 19% rise in revenue at Rs.1604 crore.

The company ended the fiscal FY21 with a 46% rise in net profit at Rs.109 crore on 4% rise in revenue at Rs.5443 crore.

The company's board has approved a dividend of Rs 6 per equity share and also approved raising funds of up to Rs 250 crore.