Punjab Chemicals at life time high

Punjab Chemicals & Crop Protection has hit a life time high today at Rs.478, a 12.5% jump over previous close.

The company, belonging to the promoters of the Nath group, announced yesterday that its Board will be meeting on 8 December 2017 to consider the option to raise long term resources by way of further public offering/rights issue/global depository receipt/American depository receipts/foreign currency convertible bonds/qualified institutional placement/debt issue/preferential issue or any other method, as may be deliberated and decided by the board of directors of the company.

The same day, it will also announce its Q2FY18 numbers; there is a lot of expectation as it had posted whopping 124% (YoY) jump in net profit at Rs.5.5 crore for Q1FY18.