Neogen Chemicals rises on getting nod to incorporate Wholly Owned Subsidiary
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Neogen Chemicals is currently trading at Rs. 1294.70, up by 30.70 points or 2.43% from its previous closing of Rs. 1264.00 on the BSE.
The scrip opened at Rs. 1276.15 and has touched a high and low of Rs. 1324.50 and Rs. 1276.15 respectively. So far 3975 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1792.00 on 01-Apr-2022 and a 52 week low of Rs. 1127.70 on 07-Feb-2023.
Last one week high and low of the scrip stood at Rs. 1324.50 and Rs. 1127.70 respectively. The current market cap of the company is Rs. 3152.33 crore.
The promoters holding in the company stood at 60.19%, while Institutions and Non-Institutions held 22.87% and 16.94% respectively.
Neogen Chemicals has received an approval for the incorporation of Wholly Owned Subsidiary (WoS) with the name as may be approved by Registrar of Companies, Mumbai, Maharashtra. The WOS is proposed to be incorporated with the main object to address the growth opportunities in Energy Storage such as Lithium- Ion Battery material space and other future energy storage chemistries. The Board of Directors of the company at its meeting held on February 11, 2023 has considered and approved the same.
Neogen Chemicals is one of India’s leading manufacturers of bromine-based, and lithium-based, specialty chemicals.
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