Wadia’s group stock surged almost 6% in the morning of Wednesday after the company set the record date to ascertain shareholders eligible to receive the equity shares of the demerged company.
Share price of National Peroxide opened at Rs. 1795.65 per share and gained over 6% to reach its intra- day high of Rs. 1898.85 per piece. The stock has grown 23.77% in the last one month and 31.64% in the last six months.
Recently, the company decided to demerge National Peroxide from NPL Investments Limited into NPL Chemicals as a resulting company. In order to determine the shareholders who are eligible to receive the equity shares of the demerged company, the company has set the record date as 25 September 2023.
Under this scheme, the shareholders eligible to receive equity shares will receive one fully paid up equity share of face value of Rs. 10 each of the Resulting Company, credited as fully paid up, for every one equity share of face value Rs. 10 each of the Demerged Company.
The company has a market capitalisation of Rs. 1031.96 crore. Comparing its financial performance on a QoQ basis, the revenue for Q1FY24 stands at Rs. 79.54 crore, a fall of 9.9% to Rs. 88.33 crore in Q4FY23. Its net profit which was Rs. 10.61 crore in Q4FY23 decreased 59.2% to Rs. 4.32 crore in Q1FY24. The company maintains a debt to equity ratio of 0.10.
National Peroxide Limited is a chemical manufacturing company based in India. The company was incorporated in 1954. The company mainly focuses on peroxygen chemicals and is the largest manufacturer of hydrogen peroxide. Their chemical products cater to many industries such as metal extraction, textile bleaching, chemical synthesis and many more.
Written by Bhumika Khandelwal
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