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Espresso shot of the day – Sumitomo Chemical India Ltd up by 13.82 percent

June 02, 2021
Espresso shot of the day – Sumitomo Chemical India Ltd up by 13.82 percent

SUMITOMO CHEMICAL INDIA LTD 363.10 (+13.82 %) BSE – INE258G01013 | 2ND JUNE 2021

Sumitomo Chemical India Ltd. (SCIL) manufactures, imports and markets products for Crop Protection, Grain Fumigation, Rodent Control, Bio Pesticides, Environmental Health, Professional Pest control and Feed Additives for use in India. SCIL has also marked its presence in Africa and several other geographies of the world. Their product range comprises of conventional chemistry sourced from our parent company, Sumitomo Chemical Company Ltd. and biological products sourced from USA based subsidiary, Valent Biosciences LLC, a leader in producing a range of naturally occurring, environmentally compatible pesticides and plant growth regulators, for over 40 years. They also produce many technical grade pesticides in our state-of-the-art manufacturing units with indigenous R&D facility. Sumitomo Chemical Company Ltd. (SCC), the parent company of Sumitomo Chemical India Ltd. was established in 1913 to manufacture fertilisers from sulphur dioxide emitted from smelting operations at the Besshi copper mine in Niihama, Ehime Prefecture, with the aim of solving environmental problems caused by the emissions. The mine was owned by Sumitomo a company which dates back to the 16th Century. During last 100 years journey, Sumitomo Chemical India Ltd. has expanded in several chemical-related sectors and is among one of the leading global chemical companies recognized for its R&D innovation capabilities and specialty product focus; Sumitomo Chemical India Ltd. is listed on Tokyo Stock Exchange since the year 1949 as independently and professionally run company with high standards of corporate governance and contributing to society at large.

Recent Drivers

  • On June 1, 2021, Sumitomo Chemical India Ltd. quarterly net profit at Rs 54.10 crores in March 2021 up 136.17% from Rs 22.91 crores in March 2020.
  • On June 1, 2021, Sumitomo Chemical India Ltd. net sales at Rs 534.28 crores in March 2021 up 19.86% from Rs 445.77 crores in March 2020.
  • On June 1, 2021, Japan has signed off on a $338 million semiconductor research project to develop cutting-edge chip technology in the country with the market-leading Taiwan Semiconductor Manufacturing Company (TSMC). Around 20 Japanese companies will work with TSMC in the project worth 37 billion yen, with the government paying just over half of that, an official from Tokyo's Ministry of Economy, Trade and Industry told AFP. Sumitomo Chemical is among the Japanese companies.
  • On May 28, 2021, The Board of Directors has declared dividend for the F.Y. 2020-21 of Rs 0.80 per equity share on 49,91,45,736 equity shares of 10/- each which is subject to the approval of the members in the Annual General Meeting and will be paid on or after 4th August, 2021 subject to the approval of the Members.
  • Sumitomo Chemical India Ltd. has established SUMIKA DX ACCENT, a joint venture with Accenture, with an aim to promote new digital projects and nurture digital talent. It started operation on April 1,2021.

 (Sources: Moneycontrol, ET Auto, BSE India, Sumitomo Chemical)

Technical Force*

  • S&P BSE 500 month till date gain up by 0.39%
  • Traded on new 52-week-high value of 373.25
  • 3 months avg. volume of NSE: 7,87,588
  • Quantity traded: 5,52,723 | Deliverable quantity: 1,44,182 (26.09%)
  • Stock price has jumped more than 40% from one year low level: 258 (August 31, 2020)
  • Daily RSI (14) is in Overbought territory today
  • 52-week-high: 373.25 | 52-week-low: 258.00

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Some Key Ratios (Source: BSE)

Market Cap: 18,123.98 crores

PE: 52.49

OPM%: 14.01

ROE%: 22.60

Promoters holding%: 75.00

Prev. Close: 319.00

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.