Small cap stock to watch: Neogen Chemicals jumps higher by ~12 per cent after a multiyear breakout
The shares of Neogen Chemicals were seen trending on Tuesday after the company announced that the commercial production of organic chemicals at its new plant in Dahej SEZ has commenced on September 6.
The stock of Neogen Chemicals is up by more than 21 per cent in one month while in one year the stock is up by more than 55 per cent. The shares of Neogen Chemicals made a frehs all time high on Tuesday, on closing basis thus catching investors interest. The stock gained by more than 12 per cent on Tuesday with record volumes.
Neogen is trading with PE multiple higher than the industry average. The company enjoys high ROCE indicating management efficiency. The earnings have improved YoY and with the commencement of operations at new plants the prospects of growth have improved.
Neogen Chemicals is chemical manufacturing company specialising in bromine-based compounds, Grignard, Reagents and Inorganic Lithium Salts.