Chemplast Sanmar rises as its division signs LoI to manufacture new pipeline Active Ingredient
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Chemplast Sanmar is currently trading at Rs. 445.55, up by 3.50 points or 0.79% from its previous closing of Rs. 442.05 on the BSE.
The scrip opened at Rs. 447.10 and has touched a high and low of Rs. 451.10 and Rs. 445.55 respectively. So far 814 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 542.85 on 04-Sep-2023 and a 52 week low of Rs. 342.00 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 459.45 and Rs. 429.55 respectively. The current market cap of the company is Rs. 7121.26 crore.
The promoters holding in the company stood at 54.99%, while Institutions and Non-Institutions held 38.53% and 6.48% respectively.
Chemplast Sanmar’s custom manufactured chemicals division has signed a Letter of Intent (LOI) with a global agrochemical innovator to manufacture a new pipeline Active Ingredient (AI). The LOI covers a period of 5 years. Commercial supplies are expected to start from CY 2025. This new product will be manufactured in recently commissioned production block.
The Custom Manufactured Chemicals Division manufactures advanced intermediates for agrochemical, pharmaceutical, and fine chemical innovators. Led by a qualified team of chemists and engineers, the division has invested in state-of-the-art production blocks, Pilot and R&D facilities to handle a wide range of chemistries and processes.
Chemplast Sanmar is a leading specialty chemical manufacturer in India. The company is engaged in the manufacturing of specialty paste PVC resin, starting materials, and intermediates for agro-chemical, pharmaceuticals, agro-chemical, and fine chemical sectors.
