Agro-chemical players are having a good day at Dalal street today

Shares of Excel Crop Care., an agrochemicals player, rose nearly 5 percent as the company reported a strong set on earnings for the first quarter thanks to lower taxes and an exceptional item in the previous quarter.

Excel Crop said its first quarter profit rose 10 percent to 31.6 crore rupees from 28.7 crore rupees in the year ago quarter, which had an exceptional profit of 4.5 crore rupees. Sales for April-to-June fell 12 percent to 290 crore rupees from 331 crore rupees in the year ago period. Excel's tax liability was 13.3 crore rupees versus 15.5 crore rupees in the two comparative period.

As a consequence, Excel Crop rose 4.7 percent, or 41.3 rupees, to 920 rupees, its highest level since June 2nd, on the National Stock Exchange, where 5,480 shares changed hands in the first 1.15 hours of trade compared with a 5-day average of 1,800 shares.

The market capitalisation of Excel Crop Care has remained flat at 1,000 crore rupees over one year.

(Image credits: Indiatimes)