Vishnu Chemicals trades higher on getting nod to invest Rs 1000 crore for development of Green Field Project
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Vishnu Chemicals is currently trading at Rs. 276.45, up by 0.35 points or 0.13% from its previous closing of Rs. 276.10 on the BSE.
The scrip opened at Rs. 280.05 and has touched a high and low of Rs. 280.20 and Rs. 276.05 respectively. So far 964 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 429.40 on 08-Sep-2022 and a 52 week low of Rs. 241.21 on 28-Feb-2022.
Last one week high and low of the scrip stood at Rs. 298.95 and Rs. 273.00 respectively. The current market cap of the company is Rs. 1659.00 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 1.10% and 23.90% respectively.
Vishnu Chemicals has received an approval for the investment proposal upto Rs 1000 crore for development of Green Field Project in the states of Gujarat and Andhra Pradesh by way of setting up Speciality Chemicals Integrated Plant in a span of next five years. The Board of Directors of the Company at their meeting held on February 27, 2023 has approved the same.
Vishnu Chemicals pioneered manufacturing chrome chemicals like sodium dichromate, potassium dichromate, basic chromium sulphate and yellow sodium sulphate at its plants in Medak District in Andhra Pradesh and Bhilai in Chattisgarh.
