Multibagger chemical stock hits record high today, rallies 113% in 6 months
- The multibagger chemical stock is up about 120% in a year's period
Shares of Vinyl Chemicals (India) Ltd surged to hit a record high of ₹523 apiece by rising nearly 2% on the BSE in Monday's early trading session. The chemical stock has been in the upward momentum as the counter is up over 38% in the last five trading sessions.
Last week, BSE sought clarification from Vinyl Chemicals (India) Ltd on August 25, 2022, with reference to movement in volume, to which the company responded that it has made all the necessary disclosures from time to time and there is no further disclosure to be given to the stock exchanges which will have a bearing on its share price/volume of the shares traded in the exchanges.
Headquartered in Mumbai, Vinyl Chemicals (India) Limited, a Parekh Group Company, was promoted by Pidilite Industries Limited (PIL) in 1986. The company is currently engaged in the business of trading in Chemicals viz. Vinyl Acetate Monomer (VAM).
Earlier, the company was engaged in the business of manufacturing VAM in its plant located at Mahad in Raigad District, Maharashtra, India. In December 2007, the said manufacturing unit was de-merged into PIL, its Promoter Company, for strategic reasons. Post-demerger, the company's main focus remains in trading of VAM, which is now imported/sourced from various Global suppliers and distributed/traded in India.
Last month, Vinyl Chemicals informed in an exchange filing that a meeting of the Board of directors of the company will be held on Monday, 8th August, 2022, inter alia, to consider and take on record the Unaudited Financial Results (Provisional) for the quarter ended 30th June, 2022.
For the quarter ended March 2022 or Q4 FY22, the company's net profit rose to ₹14.5 crore as against ₹4 crore in the year ago quarter, whereas, its revenue declined to ₹120.5 crore during the quarter from ₹166 crore in the same quarter last year.
Vinyl Chemicals shares have given multibagger return in six months as the chemical stock has rallied more than 113% during the period, and the multibagger stock is up about 120% in a year's period as compared to nearly 2% rise in benchmark BSE Sensex during the said period.
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