Rishiroop shines on getting nod to renew existing leave and license agreement with Rishiroop Polymers
Rishiroop is currently trading at Rs. 183.00, up by 5.70 points or 3.21% from its previous closing of Rs. 177.30 on the BSE.
The scrip opened at Rs. 185.90 and has touched a high and low of Rs. 188.00 and Rs. 181.45 respectively. So far 6942 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 225.35 on 22-Feb-2024 and a 52 week low of Rs. 110.00 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 188.00 and Rs. 171.00 respectively. The current market cap of the company is Rs. 162.47 crore.
The promoters holding in the company stood at 73.35%, while Institutions and Non-Institutions held 0.01% and 26.64% respectively.
Rishiroop has received approval for the renewal of the existing leave and license agreement with a Promoter Group entity and Related Party viz. Rishiroop Polymers for a further period of 11 months i.e. up to September 8, 2025. The Board of Directors of the company in the meeting held August 12, 2024 accorded approval for the same.
Rishiroop has been manufacturing rubber & PVC compounds which have specialised properties such as oil resistance, flame retardancy, ozone resistance, fuel and solvent resistance, etc. These compounds are used to make products such as petrol hose, LPG tubes, footwear, auto parts, protective clothing, seals, conveyor belts, etc.
