Omkar Speciality Chemicals rose 12.29% to Rs 85 at 14:52 IST on BSE after the company said it was granted patent for process for terminal Dihaloalkane.
The announcement was made during trading hours today, 4 October 2017.Meanwhile, the S&P BSE Sensex was up 222.77 points, or 0.71% to 31,720.15.
On the BSE, 6.48 lakh shares were traded in the counter so far, compared with average daily volumes of 84,100 shares in the past one quarter. The stock had hit a high of Rs 90.80 and a low of Rs 75.50 so far during the day.
The stock hit a 52-week high of Rs 120.05 on 14 July 2017. The stock hit a 52-week low of Rs 59.69 on 9 November 2016.
The stock had underperformed the market over the past one month till 3 October 2017, falling 15.04% compared with 0.65% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 13.68% as against Sensex's 0.81% rise. The scrip had also underperformed the market in past one year, falling 11.02% as against Sensex's 11.16% rise.
The small-cap company has equity capital of Rs 20.58 crore. Face value per share is Rs 10.
Omkar Speciality Chemicals announced that Intellectual Property India, The Government of India Patent Office, has granted a patent to the company for 'process for terminal Dihaloalkane' for 20 years from 8 June 2012 in accordance with the provisions of the Patents Act, 1970.
It awarded the legal monopoly to the company for manufacturing halogenated alkane compounds and especially the company's valuable products like diiodomethane and chloroiodomethane. This patented technology gives high yield and great purity product output thereby yielding excellent quality products, the company said in a statement.
This is the third patent grant in a span of about one year and with this, the total number of patents granted to the company in last three years stands at 5.
Net profit of Omkar Speciality Chemicals rose 37.6% to Rs 7.65 crore on 6.7% rise in net sales to Rs 85.95 crore in Q1 June 2017 over Q1 June 2016.
Omkar Speciality Chemicals is mainly engaged in the manufacture and sale of specialty chemicals and intermediates for chemical and allied industries.
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