Chemcon Speciality Chemicals rose 3.99% to Rs 453 after Plutus Wealth Management bought 2.72% stake in the company via bulk deal on Wednesday, 30 December 2020.
As per the bulk deal data on the NSE, Plutus Wealth Management purchased 10 lakh shares, or 2.72% equity, of Chemcon Speciality on Wednesday, 30 December 2020.Chemcon Speciality Chemicals is a manufacturer of specialized chemicals, used in the pharmaceutical and Oilwell industries. It supplies its products to domestic customers and as well as customers outside India.
Chemcon Speciality was listed on 1 October 2020 at Rs 730.95, a premium of 114.99% over the IPO price of Rs 340. The IPO opened for bidding on 21 September 2020 and closed on 23 September 2020. The price band for the IPO was set at Rs 338-340 per share. The IPO was subscribed 149.33 times.
The chemical maker's net profit rose 14.4% to Rs 15.58 crore on a 5.8% fall in net sales to Rs 61.54 crore in Q2 September 2020 over Q2 September 2019.
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