Rashtriya Chemicals & Fertilizers moved up 6.36% to Rs 32.60 at 12:08 IST on BSE, as net profit surged 116.6% to Rs 84.37 crore in Q2 September 2008 over Q2 September 2007.
The stock hit a high of Rs 35.20 and a low of Rs 32 so far during the day. The stock has a 52-week high of Rs 150.35 on 7 January 2008 and a 52-week low of Rs 27 on 27 October 2008.
The stock gained 7.17% to Rs 30.65 on 29 October 2008, from the recent low of Rs 28.60 on 27 October 2008, ahead of the results. The stock surged 8.04% to Rs 30.90 on 28 October 2008.
The company’s current equity is Rs 551.69 crore. Face value per share is Rs 10.
The current price of Rs 32.60 discounts the company’s Q2 September 2008 annualized EPS of Rs 6.12, by a PE multiple of 5.33.
The sharp surge in net profit was despite a provision of Rs 25.49 crore on account of foreign exchange loss in Q2 September 2008. Total income rose 75.26% to Rs 2629.77 crore in Q2 September 2008 over Q2 September 2007.
RCF is engaged in manufacturing and distributing fertilizers and chemicals. The industrial products include methanol, methylamines, sodium nitrate, ammonium nitrate melt, ammonium bi-carbonate and others.
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