Anupam Rasayan India surges on signing agreement to set up three new plants at Rs 670 crore
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The scrip opened at Rs. 826.40 and has touched a high and low of Rs. 856.00 and Rs. 821.20 respectively. So far 20164 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 928.00 on 12-Sep-2022 and a 52 week low of Rs. 547.10 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 859.00 and Rs. 730.00 respectively. The current market cap of the company is Rs. 9170.49 crore.
The promoters holding in the company stood at 60.96%, while Institutions and Non-Institutions held 14.37% and 24.67% respectively.
Anupam Rasayan India has signed a memorandum of agreement with the Gujarat government for setting up three new plants in Surat and Bharuch with an investment of Rs 670 crore. The company aims to commission these plants before 2025. The investment of Rs 670 crore is in line with the strategic move to expand company’s operations and strengthen its manufacturing capabilities.
A large part of the plants will focus on manufacturing Fluorochemicals which will service the demands of existing and potential clients catering to agrochemical, polymers and pharma sectors in Japan, Europe and the US. The new units will bolster the company's growth prospects and allow it to diversify its product offering.
The company has six manufacturing facilities in Gujarat with four facilities located at Sachin in Surat, while one of them is located at Jhagadia, Bharuch with an aggregate installed capacity of about 27,200 tonne as on December 31, 2022.
Anupam Rasayan India is one of the leading companies engaged in the custom synthesis and manufacturing of specialty chemicals in India.
