This newly listed company shares jump 17% amid strong Q2 earnings; stock up 130% from issue price

On the back of strong second-quarter numbers, the newly listed Tatva Chintan Pharma Chem shares jumped around 17 per cent to hit a new 52-week high of Rs 2,488.90 per share on the BSE intraday on Monday. The stock has been trading at an all-time high level since its listing on July 29, 2021. 

The specialty chemical company’s consolidated net profit jumped over nine-fold to Rs 32.41 crore in the July-September quarter of the financial year 2021-22, as against Rs 3.56 crore year-on-year basis.

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Similarly, the revenue from operations during the quarter was more than double to Rs 123.62 crore from Rs 60.04 crore in the same quarter a year ago period.  

Tatva Chintan, a specialty chemicals manufacturing company, manufactures structure-directing agents (SDAs), phase transfer catalysts (PTCs), electrolyte salts for supercapacitor batteries, and pharmaceutical and agrochemical intermediates and other specialty chemicals (PASC). 

It had made a stellar debut on the exchanges with a whopping 95 per cent premium listing over its issue price of Rs 1,083 per share on the BSE. The counter has soared around 130 per cent with today’s rally from its issue price.  

According to its annual report in financial year 2020-21 (FY21), “Continued R&D investments and focus on quality and timely delivery will help increase the wallet share and product portfolio with existing customers. Further, the Company plans to leverage its vast sales and marketing network, comprehensive product portfolio, and industry standing to expand customer base.”  

At around 02:24 pm; the stock has been trading over 9 per cent higher to Rs 2,327.15 on the BSE, as compared to 0.06 per cent rise in the S&P BSE Sensex. The trading volumes on the counter nearly doubled with a combined 363,000 shares changing hands on exchanges in the early morning trade.