3M India gains despite its promoter to exit PFAS manufacturing by end of 2025
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3M India is currently trading at Rs. 22885.80, up by 35.35 points or 0.15% from its previous closing of Rs. 22850.45 on the BSE.
The scrip opened at Rs. 22910.00 and has touched a high and low of Rs. 22922.45 and Rs. 22550.00 respectively.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 26858.00 on 11-Feb-2022 and a 52 week low of Rs. 17300.00 on 27-May-2022.
Last one week high and low of the scrip stood at Rs. 23444.50 and Rs. 22550.00 respectively. The current market cap of the company is Rs. 25731.95 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 11.16% and 13.84% respectively.
3M India’s Promoter -- 3M has planned to exit per- and polyfluoroalkyl substance (PFAS) manufacturing and work to discontinue the use of PFAS across its product portfolio by the end of 2025. 3M's decision is based on careful consideration and a thorough evaluation of the evolving external landscape, including multiple factors such as accelerating regulatory trends focused on reducing or eliminating the presence of PFAS in the environment and changing stakeholder expectations.
With these two actions, 3M is committing to innovate toward a world less dependent upon PFAS. 3M's products are safe for their intended uses. 3M will continue to remediate PFAS and address litigation by defending itself in court or through negotiated resolutions, all as appropriate.
3M India is fundamentally a science-based company. They produce thousands of imaginative products, and are a leader in scores of markets - from health care and highway safety to office products and abrasives and adhesives.
