INEOS Styrolution India hits record high after strong quarterly results

Styrenix Performance Materials

20/05/2021 06:11

** Shares of thermoplastics maker  INEO.NS  surge as much as
13.01% to hit a record high at 1,475 rupees
    ** Co's March-qtr profit jumps to 1.61 bln rupees vs 44.5
mln rupees yr ago
    ** INEO's March-qtr rev from ops also rises to 6.37 bln
rupees vs 3.59 bln rupees yr ago 
    ** Co posts jump in qtrly revenue on both specialties and
polystyrene segments on high market prices and strong margins
    ** More than 438,000 shares traded by 0500 GMT, 5.6 times
their 30-day avg. volume of 78,573 shares 
    ** Stock is up 56.11% this year, as of last close 

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))