This stock is one of the largest players in the domestic industrial gas space

The scrip surged more than 4 per cent despite market weakness.

On December 22, the Indian market once again closed trading in the red. The S&P BSE Sensex closed at 60,826.22, while NIFTY50 closed at 18,127.35, both down 0.4 per cent for the day. Regarding sectoral performance, IT and Healthcare outperformed the market, while Industrials and Power were the Top Losers.     

Talking about a stock-specific action, Linde India Ltd was the top gainer among S&P BSE group ‘A’ companies. The shares of Linde India Ltd closed at Rs 3497.9, surging 4.5 per cent from its previous close of Rs 3345.7. The stock opened at Rs 3350.05 and made an intraday high and low of Rs 3525 and Rs 3236.55, respectively.   

Linde India Ltd is engaged in the manufacturing of industrial and medical gases and the construction of cryogenic and non-cryogenic air separation plants. Linde India is one of the largest players in the domestic industrial gas industry.  

Its strong market position is backed by its presence of more than 75 years and a diverse product portfolio, comprising industrial, medical, compressed and special gases. The company operates across wide markets, covering more than 100 countries.  

For the latest September quarter, company revenue increased YoY by 35 per cent and came in at Rs 686 crore, while, for the same quarter, the net profit increased 47 per cent YoY and came in at Rs 91 crore.  

The company has no long-term debt on its balance sheet and as per the FY22 period ending, the company has ROE and ROCE of 12.3 per cent and 17.1 per cent, respectively.   

About the shareholding pattern, 75 per cent is owned by the promoters, 2.77 per cent by FIIs, 7.77 per cent by DIIs, and the rest 14.45 per cent by non-institutional investors.   

The company has a market capitalisation of Rs 29830 crore and is trading at a PE multiple of 74x. The stock has a 52-week high and low of Rs 4192 and Rs 2330, respectively.