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Hikal trades higher on the BSE

Hikal is currently trading at Rs. 115.90, up by 3.85 points or 3.44% from its previous closing of Rs. 112.05 on the BSE.

The scrip opened at Rs. 113.00 and has touched a high and low of Rs. 117.20 and Rs. 112.20 respectively. So far 28550 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 187.15 on 16-Apr-2019 and a 52 week low of Rs. 105.60 on 27-Oct-2019.

Last one week high and low of the scrip stood at Rs. 146.70 and Rs. 105.60 respectively. The current market cap of the company is Rs. 1439.54 crore.

The promoters holding in the company stood at 68.77%, while Institutions and Non-Institutions held 7.06% and 24.17% respectively.

Hikal has resumed normal production at Taloja site post the 100% restoration of water by MIDC. Pursuant to the Supreme Court order, MIDC has restored 100% supply of water to the Taloja MIDC zone on October 25, 2019. MIDC had cut 50% of the water supply last quarter which severely affected the operations in Q2 of FY20 resulting in lower production and sales.

Further, the Mahad site which was affected by heavy flooding in Q2FY20 resulting in a loss of production has also resumed normal production.

Hikal is engaged in R&D, manufacturing and marketing of fine chemicals for the Pharmaceutical and Agrochemical industries.

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