Here’s why IOL Chemicals gained 31% in last 20 days
IOL Chemicals stock has witnessed a rise of 31 percent in the last 20 trading sessions.
Potential reasons for the spike in shares could be linked to the surge in Ibuprofen prices. The price spike comes after German chemical company BASF temporarily shut the production of Ibuprofen at one of its US plant owing to a technical problem, leading to shortage.
With this reported shortage of Ibuprofen in the market, IOL stands to gain as it is one of the largest manufacturers of Ibuprofen with an installed capacity of 7200 tonnes per annum and accounts for about 20 percent of global capacity.
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