Manali Petrochemical inches up on executing MoU with Fermenta Biotech
Manali Petrochemical is currently trading at Rs. 63.90, up by 0.01 points or 0.02% from its previous closing of Rs. 63.89 on the BSE.
The scrip opened at Rs. 63.00 and has touched a high and low of Rs. 63.99 and Rs. 62.64 respectively. So far 10556 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 104.99 on 10-Jul-2024 and a 52 week low of Rs. 55.90 on 28-Mar-2024.
Last one week high and low of the scrip stood at Rs. 66.23 and Rs. 62.64 respectively. The current market cap of the company is Rs. 1089.10 crore.
The promoters holding in the company stood at 44.86%, while Institutions and Non-Institutions held 1.12% and 54.01% respectively.
Manali Petrochemical has executed a Memorandum of Understanding (MoU) on December 18, 2024 with Fermenta Biotech (FBL) to acquire lease and related rights of FBL, through assignment, on the leased premises situated at Saykha Industrial Estate, Gujarat admeasuring at an extant of 40,000 sqm for a consideration of Rs 18.70 crore, on the terms and conditions specified in the said MOU, subject to execution of further definitive agreements and approval of Gujarat Industrial Development Corporation.
Manali Petrochemical (MPL) is a leading petrochemical manufacturer based in Chennai, India. It markets propylene glycol and polyols.
