Manali Petrochemicals touches roof on inking MoU with Econic Technologies
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Manali Petrochemicals is locked its upper circuit limit at Rs. 111.50, up by 4.90 points or 4.60% from its previous closing of Rs. 106.60 on the BSE.
The scrip opened at Rs. 109.85 and has touched a high and low of Rs. 111.90 and Rs. 108.70 respectively. So far 180025 shares were traded on the counter.
The BSE group 'B ' stock of face value Rs. 5 has touched a 52 week high of Rs. 108.25 on 20-Sep-2021 and a 52 week low of Rs. 27.10 on 25-Sep-2020.
Last one week high and low of the scrip stood at Rs. 108.25 and Rs. 99.90 respectively. The current market cap of the company is Rs. 1924.67 crore.
The promoters holding in the company stood at 44.86%, while Institutions and Non-Institutions held 0.92% and 54.21% respectively.
Manali Petrochemicals (MPL) has entered into a Memorandum of Understanding (MoU) with Econic Technologies for introducing a more environment friendly, CO2 containing polyols, into the $28 Billion global polyols market. MPL has signed a MoU with Econic Technologies to scale their catalyst technology which would enable substitution of fossil based raw materials with captured waste CO2 in the production of polyols.
The partnership involves MPL and Econic collaborating to scale the technology at MPL's pilot plant in India. On successful completion, this will be followed by the introduction of the process to one of the production trains in MPL's main plant. The shared intent is to bring CO2 containing polyols to MPL's customers.
Manali Petrochemical (MPL) is a leading petrochemical manufacturer based in Chennai, India. It markets propylene glycol and polyols.
