Laxmi Organic Industries trades in green on the BSE
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Laxmi Organic Industries is currently trading at Rs. 444.65, up by 6.95 points or 1.59% from its previous closing of Rs. 437.70 on the BSE.
The scrip opened at Rs. 449.05 and has touched a high and low of Rs. 451.75 and Rs. 438.55 respectively. So far 46555 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 628.05 on 16-Sep-2021 and a 52 week low of Rs. 143.00 on 25-Mar-2021.
Last one week high and low of the scrip stood at Rs. 469.25 and Rs. 415.00 respectively. The current market cap of the company is Rs. 11714.54 crore.
The promoters holding in the company stood at 72.92%, while Institutions and Non-Institutions held 3.61% and 23.47% respectively.
Laxmi Organic Industries has signed Share Subscription and Shareholders’ Agreement with Radiance MH Sunrise Seven and Radiance Renewables, for acquiring 15,12,000 equity shares constituting 26% of the total share capital of Radiance MH Sunrise Seven for a sum not exceeding to around Rs 1.51 crore. The said acquisition is expected to be completed by March 11, 2022.
The company has entered into a Power Purchase Agreement with Radiance, who is in the business of owning, operating and maintenance of the captive power generating plant and supply of electricity. In line with the statutory requirements to avail such power / electricity for captive usage, the company is required to become a shareholder of Radiance by acquiring its 26% of the total share capital.
Laxmi Organic Industries is a leading manufacturer of acetyl intermediates and specialty intermediates and solvents catering to diverse end-market sectors like pharmaceuticals, agrochemicals, food packaging, pigments and coatings.
