Promoter Buying: This pesticide stock rallied 10 per cent in just five trading sessions!

Promoter & director Anand Swarup Agarwal acquired 2,05,000 equity shares of the company via open market (NSE) on September 15 and 16, 2022

India Pesticides has informed the exchange that the company's promoter & director Anand Swarup Agarwal acquired 2,05,000 equity shares via open market (NSE) on September 15 and 16, 2022.  

The company's stock has witnessed heavy buying interest, gaining more than 10 per cent in the last five trading sessions.  

On Wednesday at 9.45 am, the scrip is trading at Rs 324,45 with gains of 2.80 per cent. The 52-week high of the stock stands at Rs 353.90.  

Let us delve deeper to obtain a better understanding of the company's business operations.  

India Pesticides Limited (IPL), one of the fastest-growing agro-chemicals companies in terms of volume of technicals manufactured, majorly operates in the following two business verticals:  

Technicals - IPL manufactures generic technicals that are used in manufacturing several fungicides and herbicides as well as APIs with different applications. This vertical accounts for a majority of the company's revenue.  

Formulations – The company also manufactures as well as sells various formulations of insecticides, fungicides & herbicides, growth regulators, and acaricides, which are ready-to-use products. 

The company markets a bouquet of well-established formulations in the Indian market under various brands and happens to be the sole Indian manufacturer. It ranks among the top five manufacturers globally for several technicals such as folpet, thiocarbamate herbicide, etc. Also, the R&D facilities of the company are registered with Department of Scientific & Industrial Research (DSIR).  

Investors should watch out for this buzzing stock in the coming trading sessions!