The Thirumalai Chemicals stock has been hitting the upper circuit since it announced a stellar financial performance last week. After surging to the maximum possible limit of Rs 102.3, the share is currently quoting at Rs 97.20 on the BSE, up 14.02 per cent over its previous close of Rs 85.25.
The company reported a net profit of Rs 16.79 crore in the first quarter ended June 30, 2012, as against Rs 0.79 crore in the previous quarter ended March 31, 2012. The sharp spike in net profit can be attributed to the sharp jump in profit from other activities during the period under review at Rs 24.76 crore (Rs 1.09 crore).
The weighted average price of the scrip is Rs 98.97 and it has traded volumes of 4,07,565.