The Indian equity indices opened lower on Monday. The NSE Nifty 50 fell 75.00 points or 0.43% to start the week at 17,390.80 levels while the BSE Sensex tanked 312.52 points or 0.53% to trade at 59,151.41.
As the markets keep declining, here are 2 Chemical stocks trading at 52 week-low on Monday:
Alkyl Amines Chemicals Limited
The shares of Alkyl Amines Chemicals declined by more than 2 percent in the early hours of Monday to reach a 52-week low of Rs 2,481. In the past month, the stock has shed approximately 3 percent and in the span of six months, it has shed 16 percent.
Alkyl Amines Chemicals Limited (AACL) is a global supplier and leader in aliphatic amine, amine derivatives, and specialty amines. The company’s products serve several industries such as pharmaceuticals, Agro Chemicals, Paints & Coatings, Textile Auxiliaries, etc.
In the December quarter of FY23, the company reported a total revenue of Rs 388.52 Crore against Rs 376.66 Crore in the same quarter the year ago. Their net profit in the period grew sideways as it stood at Rs 45.7 Crore compared to Rs 45.88 Crore in Q3FY22.
The company has a market capitalization of Rs 6,761 Crore and a dividend yield of 0.27%. The promoters of the company hold a 72.51 percent stake with zero shares pledged.
Laxmi Organic Industries Limited
Laxmi Organic Industries saw its shares decline and reach a 52-week low of Rs 251.35 levels in the early hours of Monday. In the past six months, the stock has shed 22 percent and in a year it has declined by 38 percent.
Laxmi Organic Industries is a specialty chemical manufacturer, focused on two key business segments i.e, Acetyl Intermediates and Speciality Intermediates. It is engaged in the manufacturing of Ethyl Acetate, Acetic Acid, and Diketene Derivative Products (DDP).
In Q3FY23, their total revenue stood at Rs 654.64 Crore which declined YoY from Rs 859.88 Crore in Q3 of FY22. Their net profits in the period were at Rs 27.27 Crore compared to Rs 82.1 Crore in the same quarter the year ago.
The company has a market capitalization of Rs 12,909 Crore and a dividend yield of 0.40%. In addition to that, the promoters of the company hold a 71.99 percent stake with zero shares pledged.
Written by Anoushka Roy
