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Business News/ Markets / Stock Markets/  Petrochemical stock gains 400% in 3 years, record date fixed for stock split
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Petrochemical stock gains 400% in 3 years, record date fixed for stock split

With a market valuation of ₹7,198.69 Cr, Supreme Petrochem Ltd. is a mid-cap business that operates in the commodity industry.

The shares of Supreme Petrochem Ltd closed today at ₹765.65 apiece on the BSE, down by -0.20% from the previous close of ₹767.15.Premium
The shares of Supreme Petrochem Ltd closed today at 765.65 apiece on the BSE, down by -0.20% from the previous close of 767.15.

With a market valuation of 7,198.69 Cr, Supreme Petrochem Ltd. is a mid-cap business that operates in the commodity industry. Advanced production facilities are owned and run by the corporation out of two locations in India: the first is in New Manali Town, which is close to Chennai in Tamil Nadu, and the second is in Amdoshi- Wangani Village, which is close to Nagothane in District Raigad, Maharashtra. Expandable Polystyrene (EPS) is produced in the New Manali Town plant, while Polystyrene (PS), Expandable Polystyrene (EPS), Specialty Polymers and Compounds (SPC), Extruded Polystyrene Foam Boards (XPS), and Styrene Methyl Methacrylate (SMMA) are produced at the Styrenics site in Amdoshi-Wangani.

The Board of Directors of the company said in a stock exchange filing that “we would like to inform that the Board of Directors of Company, vide their Circular Resolution dated 09/12/2022, have fixed the record date as Friday, 6th January 2023 for the purpose of sub-division/split of the face value of the equity shares of the Company from existing Rs. 4 (Four) per share paid up to Rs. 2 (Two) per share paid up. This is for your kind information and doing needful in this regard."

The shares of Supreme Petrochem Ltd closed today at 765.65 apiece on the BSE, down by -0.20% from the previous close of 767.15. The stock recorded a total volume of 5,578 shares compared to the 20-Day average volume of 7,289 shares. The stock price climbed from 373.70 on December 12th, 2017, to the current market price, recording a multibagger return of 105.04% over the last five years. The stock price surged during the past three years from 145.50 on December 12, 2019, to the current market price, resulting in a multibagger return of 419.53%. The stock has appreciated 4% during the past year, but YTD, it has gained 8.32% of its value so far in 2022. 

The stock had touched a 52-week-high of 1,027.05 on (28/03/2022) and a 52-week-low of 619.80 on (27/12/2021), indicating that at the current market price the stock is trading 25.44% below the 1 year high and 23.53% above the 1 year low. For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 64.14%, FIIs stake of 2.20% vs 2.13% in Q1FY23, DIIs stake of 2.26% vs 2.18% in Q1FY23, Government stake of 0.09%, public stake of 31.31% vs 31.55% in Q1FY23. Mutual fund holdings of 2.23% were recorded by Supreme Petrochem in Q2FY23 compared to 2.16% posted in Q1FY23.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 12 Dec 2022, 10:54 PM IST
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