Mysore Petro Chemicals soars on getting nod to acquire stake in Q C Polymer
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Mysore Petro Chemicals is currently trading at Rs. 183.45, up by 6.35 points or 3.57% from its previous closing of Rs. 178.10 on the BSE.
The scrip opened at Rs. 183.60 and has touched a high and low of Rs. 190.00 and Rs. 180.60 respectively. So far 5519 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 190.00 on 10-Jan-2024 and a 52 week low of Rs. 105.00 on 24-Feb-2023.
Last one week high and low of the scrip stood at Rs. 190.00 and Rs. 165.00 respectively. The current market cap of the company is Rs. 121.14 crore.
The promoters holding in the company stood at 72.99%, while Institutions and Non-Institutions held 0.44% and 26.57% respectively.
Mysore Petro Chemicals has received approval to acquire a controlling stake in Q C Polymer (target entity). The company proposes to acquire existing business operations of the target entity thereby enabling it to explore the new business opportunities. This will help the target entity to stimulate its existing business operations and generate additional revenue for the Company. The Board of Directors of the Company at their meeting held on January 8, 2024, has approved the same.
Mysore Petro Chemicals is engaged in the manufacture and sale of chemicals. Its products include phthalicanhydride and maleicanhydride.
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