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Styrenix Performance Materials is currently trading at Rs. 2881.95, up by 24.90 points or 0.87% from its previous closing of Rs. 2857.05 on the BSE.

The scrip opened at Rs. 2857.10 and has touched a high and low of Rs. 2883.25 and Rs. 2823.25 respectively. So far 3623 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2907.80  on 10-Dec-2024 and a 52 week low of Rs. 1250.05 on 14-Mar-2024.

Last one week high and low of the scrip stood at Rs. 2907.80 and Rs. 2501.85 respectively. The current market cap of the company is Rs. 5040.66 crore.

The promoters holding in the company stood at 46.24%, while Institutions and Non-Institutions held 13.22% and 40.54% respectively.

Styrenix Performance Materials has received approval from Board of Directors for acquisition of 100% shareholding by company (through a step-down subsidiary) of INEOS Styrolution (Thailand) (INEOS Thailand) from its existing shareholders, i.e. INEOS Styrolution Group GmbH. (INEOS Germany), INEOS Styrolution APAC Pte. and INEOS Styrolution Hong Kong Company, subject to completion of customary conditions precedent (Proposed Acquisition), in terms of a share sale and purchase agreement between the Company and INEOS Germany (SPA). Pursuant to the Board’s approval, the Company has executed the SPA with INEOS Germany on December 9, 2024.  

Further, the company has also received approval for incorporation of a Step-Down Subsidiary in Thailand in which 99.99% shares will be held by Styrenix Performance Materials FZE, Dubai, a wholly owned subsidiary of the Company. 

The board of directors at its meeting held on December 9, 2024 has approved the same. 

Styrenix Performance Materials is the number one producer of Absolac (ABS) and Absolan (SAN) in India. ABS is a plastic resin produced from acrylonitrile, butadiene and styrene, used for manufacturing home appliances, automobiles, consumer durables and machinery.