Aether Industries surges on signing initial pact to set up new manufacturing plants at Panoli Site
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Aether Industries is currently trading at Rs. 889.20, up by 3.85 points or 0.43% from its previous closing of Rs. 885.35 on the BSE.
The scrip opened at Rs. 890.70 and has touched a high and low of Rs. 898.00 and Rs. 880.00 respectively. So far 1839 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1050.00 on 19-Sep-2022 and a 52 week low of Rs. 699.85 on 03-Jun-2022.
Last one week high and low of the scrip stood at Rs. 898.05 and Rs. 850.00 respectively. The current market cap of the company is Rs. 11044.10 crore.
The promoters holding in the company stood at 87.07%, while Institutions and Non-Institutions held 9.91% and 3.01% respectively.
Aether Industries has signed an initial pact with the Gujarat government to set up new manufacturing plants at its Panoli Site with an investment of around Rs 1,000 crore. With an indicated investment of Rs 1,000 crore, generating future employment for more than 1,000 people, the company aims to commission the plants by the year 2025.
In the recent past, the company had purchased 1,25,000 sq. plots at Panoli GIDC, in Bharuch district. The company aims to utilise the Panoli plots in an efficient manner to manufacture a variety of products for the first time in India. Currently, the company has three active manufacturing sites, one R&D center and pilot plant in Hojiwala, Surat, and two manufacturing sites in Sachin, Surat.
Aether Industries is a specialty chemicals manufacturer in India focused on producing advanced intermediates and specialty chemicals involving complex and differentiated chemistry and technology core competencies.
