IVP hits new high, falls

IVP is pretty volatile. After hitting the UC consistently for the past entire week, the stock is currently in the red, down 1.5% at Rs.177 and this is after hitting a new high at Rs.201.85, skimming the 10% UC briefly.

The company, engaged in chemical manufacturing business, with facilities in Maharashtra and Karnataka posted a 47% (YoY) rise in net profit at over Rs.6 crore on a whopping 74% jump in net revenue at Rs.157 crore.

The company, which is the second largest producer of footwear and castings in the world after China, is sure to end FY22 on a high note. It’s net profit for 9MFY22 was at over Rs.10 crore  as against Rs.4.50 crore posted for entire FY21.