PCBL Chemical moves up as its arm incorporates wholly owned subsidiary in USA
PCBL Chemical is currently trading at Rs. 389.10, up by 1.25 points or 0.32% from its previous closing of Rs. 387.85 on the BSE.
The scrip opened at Rs. 387.85 and has touched a high and low of Rs. 391.60 and Rs. 384.05 respectively. So far 9642 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. 250.05 on 20-Jun-2024.
Last one week high and low of the scrip stood at Rs. 404.90 and Rs. 380.00 respectively. The current market cap of the company is Rs. 14711.60 crore.
The promoters holding in the company stood at 51.41%, while Institutions and Non-Institutions held 15.76% and 32.84% respectively.
PCBL Chemical’s subsidiary -- Nanovace Technologies has incorporated its wholly owned U.S. subsidiary namely ‘Nanovace Inc.’ in the state of Delaware. The company is exploring entering the highly lucrative battery chemicals market in USA. 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.
Nanovace technologies enables localization of supply chains of critical battery material like Graphite - Silicon composites, which is of critical strategic significance. The company’s U.S. subsidiary would strengthen the company’s position as a global player in the battery chemicals industry.
PCBL Chemical (formerly known as PCBL) is primarily engaged in the business of manufacturing & sale of carbon black and sale of power.
