Excel Industries soars on signing long-term agreement with leading Multinational Company
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Excel Industries is currently trading at Rs. 1060.00, up by 35.10 points or 3.42% from its previous closing of Rs. 1024.90 on the BSE.
The scrip opened at Rs. 1046.45 and has touched a high and low of Rs. 1072.15 and Rs. 1046.45 respectively. So far 809 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 1133.90 on 21-May-2024 and a 52 week low of Rs. 698.90 on 28-Mar-2024.
Last one week high and low of the scrip stood at Rs. 1133.90 and Rs. 1015.00 respectively. The current market cap of the company is Rs. 1288.37 crore.
The promoters holding in the company stood at 52.60%, while Institutions and Non-Institutions held 7.54% and 39.86% respectively.
Excel Industries has signed a long-term agreement with a leading Multinational Company for the supply of a niche chemical. This contract, spanning 5 years, is projected to generate estimated revenue of Rs 50-70 crore for the company over the duration of the contract.
This agreement will be the starting point for the Excel’s entry into Contract Manufacturing. Excel Industries has over the years developed expertise in certain chemistries which will enable Excel to provide value added contract manufacturing offerings to customers.
Excel Industries, one of India’s first domestic chemical manufacturers. It is pioneers in indigenous chemical technology and sustainable waste management. Innovation has always been a key driving force at Excel.
