These two stocks hit new 52-week high on the back of robust Q4 results – check Balaji Amines, IG Petrochemicals share price details here

Amid strong quarter performance, Balaji Amines and IG Petrochemicals on Tuesday hit their fresh 52-week high to Rs 2956 per share and Rs 618 per share respectively on the BSE intraday.

Both the companies Balaji Amines and IG Petrochemicals declared dividends: Reuters

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Mumbai: Amid strong quarter performance, Balaji Amines and IG Petrochemicals on Tuesday hit their fresh 52-week high to Rs 2956 per share and Rs 618 per share respectively on the BSE intraday.

Bothe companies on Monday reported a robust quarterly performance. Balaji Amines’ Q4 profit soar by over 200 per cent to Rs 89 crore as compared to Rs 29 crore in Q4 of fiscal 2020-2021, whereas the IG Petrochemicals grew by 25 times to Rs 100 crore in Q4 FY21 versus Rs 4 crore in Q4 FY20.

Balaji Amines traded positive almost the whole session today, however, declined by over three and a half per cent to Rs 2795 per share on Tuesday’s close. The stock has declined around six per cent today from its day’s high (52-week high) levels.

It had touched its new high minutes after today’s session opening, however, failed to maintain the shine. The stock on Monday had closed at Rs 2894 per share, up over three per cent. Balaji Amines recorded Rs 2714 per share as its day’s low on Tuesday.

Meanwhile, IG Petrochemical, which continued its rally, soared by over four per cent at Rs 592 per share at the close today. The stock hit its life high during early trade and surged by 17 per cent intraday today at Rs 618 per share as compared to the previous close of Rs 568 per share.

Moreover, in the last five sessions, IG Petrochemicals has jumped over 30 per cent intraday on strong volumes. On May 19, it had closed at Rs 509 per share as against Rs 618 per share intraday today.

Both the companies' margins grew exponentially, Balaji Amines reported a growth of 31.7 per cent in margin from 22 per cent in the fourth quarter. While IG Petrochemicals margin soared by 34 per cent in Q4 FY21 as against 6 per cent in the same quarter year ago.

Moreover, both the companies Balaji Amines and IG Petrochemicals declared dividends of Rs 4 and Rs 7.5 per share respectively during their quarterly results.

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