India Pesticides gains on incorporating subsidiary company
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India Pesticides is currently trading at Rs. 379.25, up by 3.90 points or 1.04% from its previous closing of Rs. 375.35 on the BSE.
The scrip opened at Rs. 382.65 and has touched a high and low of Rs. 382.80 and Rs. 376.55 respectively. So far 24892 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 382.80 on 08-Jan-2024 and a 52 week low of Rs. 197.50 on 16-Mar-2023.
Last one week high and low of the scrip stood at Rs. 382.80 and Rs. 352.60 respectively. The current market cap of the company is Rs. 4379.67 crore.
The promoters holding in the company stood at 63.61%, while Institutions and Non-Institutions held 2.02% and 34.37% respectively.
India Pesticides has incorporated new subsidiary company under the name ‘Amona Specialities’ (ASPL). The company holds 51% shares in ASPL. Accordingly, ASPL is a subsidiary company of India Pesticides. The company has an asset-light business model whereby it will focus on identifying generic molecules preparing dossiers, seeking registrations, marketing and distributing formulations/technical through third-party distributors or its own sales force
India Pesticides is an R&D focused agrochemical technical company, which has growing formulations business in herbicides, insecticides and fungicide segments. It also manufactures active pharmaceutical ingredients (APIs).
