The stock has skyrocketed by 39 per cent on strong volume in the last two trading sessions.
Punjab Chemicals and Crop Protection has extended gains in early deals after the company forecasted bumper profits in FY16.
The company on 5 March, 2015, issued a release to the BSE stating that it expects to earn a profit of Rs. 4.50 crore for the FY15, followed by a bumper profit of Rs. 20 crore in FY16.
The release further added that, for the nine-month period ended December 2014, the company had clocked a net profit of Rs. 4.08 crore. Gross sales from Rs. 314 crore at the end of December is expected to be around Rs. 400 crore at the end of the fiscal year.
Following the release, the stock was locked at the 20 per cent upper limit at Rs. 126 on Thursday. This morning the stock so far has touched a high of Rs. 146, and is now up 9 per cent at Rs. 137.
In the process, the stock has skyrocketed by 39 per cent in the last two trading sessions.
The counter has seen 6.6 times jump in volume with trades of around 68,000 shares as against the two-week daily average volume of around 9,000-odd shares on the BSE.
Meanwhile, the Sensex has shed 353 points at 29,096.
The company on 5 March, 2015, issued a release to the BSE stating that it expects to earn a profit of Rs. 4.50 crore for the FY15, followed by a bumper profit of Rs. 20 crore in FY16.
The release further added that, for the nine-month period ended December 2014, the company had clocked a net profit of Rs. 4.08 crore. Gross sales from Rs. 314 crore at the end of December is expected to be around Rs. 400 crore at the end of the fiscal year.
Following the release, the stock was locked at the 20 per cent upper limit at Rs. 126 on Thursday. This morning the stock so far has touched a high of Rs. 146, and is now up 9 per cent at Rs. 137.
In the process, the stock has skyrocketed by 39 per cent in the last two trading sessions.
The counter has seen 6.6 times jump in volume with trades of around 68,000 shares as against the two-week daily average volume of around 9,000-odd shares on the BSE.
Meanwhile, the Sensex has shed 353 points at 29,096.
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