Meghmani Finechem soars on commissioning largest CPVC Resin plant at Dahej
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Meghmani Finechem is currently trading at Rs. 1477.10, up by 41.20 points or 2.87% from its previous closing of Rs. 1435.90 on the BSE.
The scrip opened at Rs. 1454.90 and has touched a high and low of Rs. 1496.00 and Rs. 1453.15 respectively. So far 24952 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1576.00 on 07-Jun-2022 and a 52 week low of Rs. 386.35 on 18-Aug-2021.
Last one week high and low of the scrip stood at Rs. 1469.95 and Rs. 1365.00 respectively. The current market cap of the company is Rs. 6202.61 crore.
The promoters holding in the company stood at 71.11%, while Institutions and Non-Institutions held 1.62% and 27.27% respectively.
Meghmani Finechem has successfully commissioned Chlorinated Polyvinyl Chloride Resin (CPVC Resin) Plant at Dahej in Gujarat. The newly-commissioned facility with a production capacity of 30,000 tonnes per annum (TPA) is the largest of its kind in India. Despite a challenging external environment, the plant has been commissioned on time and without any cost overrun, which is a testimony of the company’s strong project execution skills.
The company's entry into this product is in line with the Central Government’s initiative of Aatmanirbhar Bharat and Make in India. This will reduce the dependence of CPVC resin consumer on imports thereby helping the country save its foreign exchange reserves.
Meghmani Finechem is primarily engaged in manufacturing and selling of Chlor Alkali & its Derivatives. The Company is also engaged in Trading of Agrochemical products.
