Neogen Chemicals hits highest level since listing; surges 31% in one month

Shares of newly-listed Neogen Chemicals hit a new high of Rs 337, up 10 per cent on the BSE in an otherwise weak market on Wednesday.

The stock, which got listed on the bourses on May 8, 2019, has rallied 57 per cent against its issue price of Rs 215 per share. In the past one-month, the scrip rallied 31 per cent, as compared to a 7 per cent rise in the S&P BSE Sensex.

Neogen Chemicals is a manufacturer of Bromine and Lithium-based specialty chemical. For the financial year 2018-19 (FY19), the company's net profit nearly doubled to Rs