IOL Chemicals & Pharmaceuticals rose 3.18% to Rs 61.65 at 15:00 IST on BSE after the board allotted shares to Innova Marchantiles, a non-promoter on the exercise of option attached with the warrants.
The announcement was made after market hours yesterday, 25 August 2015.
Meanwhile, the BSE Sensex was down 266.93 points, or 1.03% to 25,755.96.
On BSE, so far 15,583 shares were traded in the counter, compared with an average volume of 1.08 lakh shares in the past one quarter.
The stock hit a high of Rs 61.70 and low of Rs 54.20 so far during the day. The stock had hit a 52-week high of Rs 113.90 on 21 July 2015. The stock had hit a 52-week low of Rs 24.50 on 24 March 2014.
The stock had underperformed the market over the past one month till 25 August 2015, dropping 43.05% compared with 7.4% fall in the Sensex. The stock had however outperformed the market in past one quarter, gaining 24.84% as against Sensex's 5.83% decline.
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The small-cap company has an equity capital of Rs 51.96 crore. Face value per share is Rs 10.
IOL Chemicals & Pharmaceuticals said that the Allotment Committee of the board of directors of the company in its meeting held on 25 August 2015, allotted 6 lakh equity shares of Rs 10 each to Innova Marchantiles, non-promoter on the exercise of option attached with the warrants allotted on 4 July 2014. The said shares shall be remained locked in for a period of one year from the date of trading approval.
IOL Chemicals & Pharmaceuticals reported net loss of Rs 17.94 crore in Q1 June 2015 compared with net profit of Rs 1.25 crore in Q1 June 2014. Total income rose 13.2% to Rs 137.23 crore in Q1 June 2015 over Q1 June 2014.
IOL Chemicals & Pharmaceuticals is one of the leading organic chemicals manufacturer and supplier
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