Kothari Industrial Corporation gains on planning to invest Rs 500 crore in Assam
Kothari Industrial Corporation is currently trading at Rs 108.00, up by 1.15 points or 1.08% from its previous closing of Rs 106.85 on the BSE.
The scrip opened at Rs 106.85 and has touched a high and low of Rs 108.00 and Rs 106.85 respectively. So far 10367 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 5 has touched a 52-week high of Rs 128.00 on 14-Feb-2025 and a 52-week low of Rs 1.80 on 02-Apr-2024.
Last one week high and low of the scrip stood at Rs 111.20 and Rs 106.85 respectively. The current market cap of the company is Rs 838.99 crore.
The promoters holding in the company stood at 53.38%, while Institutions and Non-Institutions held 5.36% and 41.26% respectively.
Kothari Industrial Corporation has inked memorandum of understanding (MoU) with the Government of Assam. This landmark MoU marks the company’s foray into mining rare earth and critical minerals in Assam.
Under the MoU, KICL has committed an initial investment of Rs 500 crore, with an estimated direct employment generation of 3000 jobs. The project will be developed in collaboration with the Assam government and its public sector undertakings (PSUs), ensuring a seamless integration of expertise, infrastructure, and sustainable development practices. This strategic partnership underscores Assam’s growing importance as a hub for mineral exploration and KICLs unwavering commitment to national development.
The Government of Assam has assured KICL of all necessary approvals, registrations, and clearances through the Ease of Doing Business (EoDB) Portal. This collaboration is expected to accelerate industrial growth, empower local communities, and position Assam as a key player in India's critical minerals sector.
Kothari Industrial Corporation is mainly engaged in manufacturing and trading of fertilizers.
