{"id":112454,"date":"2023-10-20T17:50:43","date_gmt":"2023-10-20T12:20:43","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=112454"},"modified":"2023-10-20T17:50:48","modified_gmt":"2023-10-20T12:20:48","slug":"petrochemical-stock-jumps-up-to-5-after-it-announces-136-increase-in-profits-in-q2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/petrochemical-stock-jumps-up-to-5-after-it-announces-136-increase-in-profits-in-q2\/","title":{"rendered":"Petrochemical stock jumps up to 5% after it announces 136% increase in profits in Q2\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-109546361\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of this small cap petrochemical stock gained 4.91 percent today, after the company reported 8 percent increase in revenue and 136 percent increase in profits.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3208907961\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>On 20th October 2023, shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/STYRENIX\/standalone?defaul=true\" target=\"_blank\" rel=\"noreferrer noopener\">Styrenix Performance Materials Ltd<\/a><\/strong> closed at Rs. 1,330 per share, up by 4.91 percent from previous closing price of Rs. 1,276.35 per share.\u00a0<\/p><p>Such bullish stock price movements were observed after the company through a regulatory filing on Bombay stock exchange (BSE) announced results for Q2FY24. Company\u2019s revenue increased by 8 percent to Rs. 59,803 crores in Q2FY24 from Rs. 55,360.36 in Q2FY23, profit increased by 136 percent to Rs. 5,635.28 crores from Rs. 2,379 crores Year on year.&nbsp;<\/p><p>Looking at the profitability ratios, the company reported return on equity (ROE) of 23.3 percent and return on capital employed (ROCE) of 31.72 percent. Company has debt to equity ratio of 0.01 indicating company has negligible debt.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2348432477\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Promoters of the company hold 62.73 percent, public holds 30.19 percent in the company and the rest are held with FIIs and DIIs.&nbsp;<\/p><p>Styrenix Performance Materials Limited is an India-based company. The Company is a producer of Absolac (ABS). ABS is a plastic resin produced from Acrylonitrile, Butadiene &amp; Styrene, used for manufacturing of home appliances, automobiles, consumer durables and business machines.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by: Vinit Israni<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3302713842\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of this small cap petrochemical stock gained 4.91 percent today, after the company reported 8 percent increase in revenue and 136 percent increase in profits.&nbsp; On 20th October 2023, shares of Styrenix Performance Materials Ltd closed at Rs. 1,330 per share, up by 4.91 percent from previous closing price of Rs. 1,276.35 per share.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":62638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[948,936,13571,13572,13570],"class_list":["post-112454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-stock-market","tag-stock-market-news","tag-styrenix-performance-latest-news","tag-styrenix-performance-q2results-fy2024","tag-styrenix-performance-share-price"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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