Trending Mid Cap Stocks: Bodal Chemicals sets new 52-week high price
DSIJ Intelligence / 12 Jul 2017
Bodal Chemicals is one of the most integrated Dyestuff manufacturer in India. It enjoys market share of 6 percent globally and 25 percent in India in dye intermediates segment.
Bodal Chemicals stock today opened at price of Rs 183.7, up by 10.1 percent from its previous close of Rs 166.8. Two bulk deals on the BSE has led this huge price hike in the stock. Investor Ashish Kacholia and Bengal Finance & Investment have bought 12 lakh and 7.25 lakh shares of Bodal Chemical respectively.
One of the promoters has sold 23.5 lakh shares which constituted almost 2.37 percent stake in the company. The stock has reached a new 52-week high level at Rs 187.05 today.
Bodal Chemicals is one of the most integrated Dyestuff manufacturer in India. It enjoys market share of 6 percent globally and 25 percent in India in dye intermediates segment. Exports contribute 29% to the total revenue including 375 customers from 50+ countries.
The company has capacity expansion plans in the pipeline over 3-4 years in the dyestuff manufacturing segment. For FY17, on standalone basis, the company’s revenue reported growth of 29.6 percent YoY and net profit has shown growth of 49 percent YoY.
The stock has given returns of 71 percent in the past 52 weeks. Implementation of GST and growing global demand is expected to have positive impact on the dyes and chemicals sector in India.
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