Buzzing stock: Tide Water Oil Company soars 129 per cent in just 9 days

During Friday’s trading session, the stock of Tide Water Oil Company (India) Ltd jumped almost 5 per cent and made an intraday high of Rs 12,670 per share. In the last nine days, the stock of the company has risen by 129 per cent.

The company’s stock has increased by 254 per cent from its decline of May 2020. The stock today hit a record high of Rs 12,670.   

The company reported a net profit of Rs 43.29 crore in Q3FY21. In Q3FY20, it had reported a net profit of Rs 37.91 crore, which is an increase of 14.19 per cent. Besides, the company reported net sales of Rs 364.32 crore for Q3FY21, an increase of 5.3 per cent as against the net sales of Rs 345.99 crore for Q3FY20.

The company is mainly engaged in the business of manufacturing & marketing lubricants.  

According to BSE data, the stock traded at a P/E multiple of 37.03 and a price-to-book ratio of 6.21. The stock has a 52-week high and a 52-week low of Rs 12,670 and Rs 3,582.05, respectively.  

At 10.55 am today, the share of the company was trading at Rs 12,330.50 per share on BSE, which is up by 2.16 per cent.