Tata Chemicals surged 12.48% to Rs 150.10 at 10:05 IST on BSE, as net profit jumped 51.39% to Rs 215.80 crore in Q2 September 2008 over Q2 September 2007.
The stock hit a high of Rs 151.50 and a low of Rs 138.30 so far during the day. The stock has a 52-week high of Rs 440 on 29 May 2008 and a 52-week low of Rs 116.10 on 27 October 2008.
The stock gained 9.75% to Rs 133.45 on 29 October 2008, from a recent low of Rs 121.60 on 27 October 2008, ahead of the results. The stock surged 10.32% to Rs 134.15 on 28 October 2008.
The company’s current equity is Rs 235.17 crore. Face value per share is Rs 10.
The current price of Rs 150.10 discounts the company’s Q2 September 2008 annualized EPS of Rs 36.69, by a PE multiple of 4.09.
The sharp surge in net profit was despite a huge provision of Rs 167.45 crore on account of foreign exchange loss in Q2 September 2008. Total income rose 178.42% to Rs 3644.71 crore in Q2 September 2008 over Q2 September 2007.
Tata Chemicals is India's leading manufacturer of inorganic chemicals. It also manufactures fertilizers and food additives.
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