Bharat Rasayan shares spike 17% to 52-week high after strong Q4 results. Details here

Bharat Rasayan, a small-cap entity manufacturing chemicals and fertilisers, witnessed a massive surge in its stock during the trading session on Friday, May 31. The shares peaked by 17% to hit a 52-week high of ₹10,799 apiece on the National Stock Exchange (NSE).

The peak was recorded within the first hour of trading. By 10:34 am, the shares pared some of the gains and were valued at ₹10,430.05 apiece, still up 13.3% as against the previous day's close.

Strong Q4 results

The surge in Bharat Rasayan stock was fueled by the strong March quarter results declared a day earlier. The company's consolidated net profit during the three-month period came in at ₹67.1 crore, up 220% as compared to ₹30.2 crore in the year-ago period.

The consolidated revenue from operations increased to 1.2% year-on-year to ₹309.6 crore in Q4FY24, as against ₹305.8 crore in Q4FY23.

The agrochemical manufacturer also declared a dividend of ₹1.5 per share at face value of ₹10 each for the financial year ended March 31, 2024. The payout would be subject to the approval of shareholders at the annual general meeting, it said.

Notably, the shares of Bharat Rasayan have climbed by around 16% in 2024 so far. In the past one year, the growth has been modest at nearly 6%.

The company's total market capitalisation value stands at ₹4,325 crore, as per the data shared by the NSE. The Mumbai-headquartered firm was listed in 1995, and is currently included under the NIFTY 500 index.