New Delhi: Shares of Neogen Chemicals have risen a whopping 570 per cent since its debut on the exchanges in 2019.
In 2021, the company, which deals in specialty chemicals, saw a rise of 139 per cent in its share price.
Notably, India fulfils a portion of its specialty chemicals requirements through imports. However, lately, the Centre has been aiming to ramp up domestic production of such products.
Consequently, the company’s shares have been on an upswing due to domestic factors.
Its shares rose between 40 per cent and 50 per cent range in the past one month, thereby outperforming the key indices.
Tuesday, the company’s shares settled at Rs 1,760, up over 6 per cent from its previous close.
At the time of listing, the shares of the company were hovering around Rs 260, exchange data showed.
Neogen Chemicals is a 30-year-old company specialising in Bromine-based compounds, Grignard Reagents and Inorganic Lithium Salts.
These specialty chemical product offerings are used in pharmaceutical and agrochemical intermediates, engineering fluids, electronic chemicals, polymer additives, water treatment, construction, aroma chemicals, flavours and fragrances, specialty polymers, and VAM original-equipment manufacturers in India and across 28 countries.
IANS