Shares of Phillips Carbon Black Limited (NSE:PCBL) hit a yearly high of Rs 211 ($1 = Rs 83.15) on Thursday, marking a 7 percent increase, after the company secured two patents related to specialty-grade and surface-modified carbon black. By midday, the stock was trading at Rs 210.50 on the National Stock Exchange (NSE).
The first patent, IN444448, is for a process that modifies specialty grade carbon black for use in inks and coating applications. The second patent introduces an innovative carbon black composition aimed at enhancing fuel efficiency and tire longevity.
So far this year, PCBL's shares have experienced a noteworthy surge of approximately 60 percent, vastly outperforming the Nifty 50's 8 percent rise. This includes an impressive 80 percent jump in the last six months alone.
In terms of ownership, promoters held a 51.41 percent stake in PCBL during Q2. Meanwhile, Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) increased their holdings to 6.56 percent, with Mutual Funds also raising their stakes to 6.05 percent.
Financially, PCBL maintains a healthy balance sheet with a low debt to equity ratio of 0.33, reflecting the company's strong financial management strategies.
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