Powered by: Motilal Oswal
2025-07-29 11:40:33 am | Source: Accord Fintech
PCBL Chemical inches up on incorporating wholly owned subsidiary in USA
PCBL Chemical inches up on incorporating wholly owned subsidiary in USA

PCBL Chemical is currently trading at Rs. 385.95, up by 1.15 points or 0.30% from its previous closing of Rs. 384.80 on the BSE.

The scrip opened at Rs. 381.25 and has touched a high and low of Rs. 389.20 and Rs. 381.25 respectively. So far 959 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 584.50 on 30-Sep-2024 and a 52 week low of Rs. 288.55 on 29-Jul-2024.

Last one week high and low of the scrip stood at Rs. 417.85 and Rs. 381.25 respectively. The current market cap of the company is Rs. 14524.76 crore.

The promoters holding in the company stood at 51.41%, while Institutions and Non-Institutions held 16.64% and 31.95% respectively.

PCBL Chemical has incorporated a wholly owned subsidiary, PCBL Chemical USA Inc., under the laws of the State of Delaware, United States of America (USA). The company has subscribed to 1,000 equity shares of PCBL Chemical USA Inc., each having a face value of $1, aggregating to a total consideration of $1,000. These shares have been issued at par and are held entirely by the company, thereby establishing PCBL Chemical USA Inc. as a wholly owned subsidiary.

The subsidiary in USA will facilitate easier access to the North American markets. A local subsidiary in USA would further help to gain strategic market access, proximity to customers and understand regulatory and incentive landscape. The company enables localization of supply chains of carbon black and speciality chemicals which is of critical strategic significance. The company’s US subsidiary would strengthen PCBL Chemical position as a global player in the industry.

PCBL Chemical (formerly known as PCBL) is primarily engaged in the business of manufacturing & sale of carbon black and sale of power.

 

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here