Neogen Chemicals surges 16% on healthy outlook, up 27% in 2 trading days

Shares of Neogen Chemicals surged 16 per cent to Rs 1,763 on the BSE in Friday’s intra-day trade, zooming as much as 27 per cent in the past two trading days, in an other weak market. At 12:35 pm; the S&P BSE Sensex was down 0.47 per cent or 275 points at 58,187.

Neogen’s business has some seasonal drivers, due to which the company tends to deliver stronger financial performance in the second half of the financial year (October to March). Seasonal variance is driven by strong demand from Europe as orders tend to scale up in October-November and