India Pesticides rises on starting first phase of backward Integration of Pretilachlor Technical
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India Pesticides is currently trading at Rs. 235.10, up by 2.05 points or 0.88% from its previous closing of Rs. 233.05 on the BSE.
The scrip opened at Rs. 233.00 and has touched a high and low of Rs. 237.50 and Rs. 233.00 respectively. So far 2984 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 368.00 on 05-Jul-2021 and a 52 week low of Rs. 230.40 on 30-May-2022.
Last one week high and low of the scrip stood at Rs. 244.75 and Rs. 232.00 respectively. The current market cap of the company is Rs. 2693.67 crore.
The promoters holding in the company stood at 66.56%, while Institutions and Non-Institutions held 3.26% and 30.17% respectively.
India Pesticides has started first phase of backward integration for Pretilachlor Technical of 2000 TPA. This will be manufactured in existing facility at Sandila Plant, which will further safeguard the company from any supply chain challenge of the intermediate which is largely imported. The company is planning to expand it further in the FY 2022-23. The primarily application for the chemical is as herbicide for rice plantation. The company anticipates a good market potential for this product. The process to manufacture was developed through indigenous R&D facility & project engineering teams.
India Pesticides is an R&D focused agrochemical technical company, which has growing formulations business in herbicides, insecticides and fungicide segments. It also manufactures active pharmaceutical ingredients (APIs).
