Manali Petrochemicals gains on getting nod for additional investment upto $35 million in Amchem Speciality Chemicals
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Manali Petrochemicals is currently trading at Rs. 84.40, up by 0.15 points or 0.18% from its previous closing of Rs. 84.25 on the BSE.
The scrip opened at Rs. 84.05 and has touched a high and low of Rs. 86.80 and Rs. 84.05 respectively. So far 65028 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 149.50 on 21-Apr-2022 and a 52 week low of Rs. 80.10 on 03-Nov-2022.
Last one week high and low of the scrip stood at Rs. 97.30 and Rs. 80.10 respectively. The current market cap of the company is Rs. 1455.97 crore.
The promoters holding in the company stood at 44.86%, while Institutions and Non-Institutions held 2.27% and 52.86% respectively.
Manali Petrochemicals’ board has approved an additional investment upto $ 35 million in Amchem Speciality Chemicals, Singapore, the Wholly Owned Subsidiary of the Company for potential overseas acquisitions. The investment would be in one or more tranches and further details in this regard would be furnished in due course. The Board at the meeting held on November 2, 2022 has approved the same.
Manali Petrochemical (MPL) is a leading petrochemical manufacturer based in Chennai, India. It markets propylene glycol and polyols.
