Excel Crop hits roof after Appellate Tribunal reduces penalty amount by over 90%

31 Oct 2013

Excel Crop Care is currently trading at its upper circuit limit of Rs. 307.75, up by 14.65 points or 5.00 % from its previous closing of Rs. 293.10 on the BSE.

The scrip opened at Rs. 307.75 and has touched a high and low of Rs. 307.75 and Rs. 307.75 respectively. So far 2424 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 5 has touched a 52 week high of Rs. 312.00 on 30-Oct-2013 and a 52 week low of Rs. 150.45 on 28-Mar-2013.

Last one week high and low of the scrip stood at Rs. 312.00 and Rs. 253.00 respectively. The current market cap of the company is Rs. 338.70 crore.

The promoters holding in the company stood at 22.86% while Institutions and Non-Institutions held 12.61% and 64.53% respectively.

The Competition Appellate Tribunal has reduced the penalty by more than 90%, imposed by the Competition Commission of India on Excel Crop Care. Consequently, the amount of penalty has been reduced to Rs 2.92 crore from Rs 63.90 crore.

The Competition Appellate Tribunal has pronounced an Order on the company’s appeal challenging the penalty of Rs 63.90 crore imposed by the Competition Commission of India on the company.

Excel Crop Care is engaged in agrochemical business and has reported over three-fold jump in net profit at Rs 23.24 crore for the second quarter ended September 2013 against Rs 7.60 crore in a year ago quarter.

 

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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