Styrenix Performance Materials rises on acquiring 36.13% shareholding in Clean Max Jasper
Styrenix Performance Materials is currently trading at Rs. 2514.85, up by 29.55 points or 1.19% from its previous closing of Rs. 2485.30 on the BSE.
The scrip opened at Rs. 2410.05 and has touched a high and low of Rs. 2527.25 and Rs. 2410.05 respectively. So far 202 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 3096.75 on 20-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. 2534.65 and Rs. 2321.00 respectively. The current market cap of the company is Rs. 4410.47 crore.
The promoters holding in the company stood at 46.24%, while Institutions and Non-Institutions held 14.66% and 39.10% respectively.
Styrenix Performance Materials has completed the acquisition of 36.13% shareholding i.e. 3,613 equity shares of Clean Max Jasper (CMJPL) on February 18, 2025. The acquisition is for complying with regulatory requirements related to captive power consumption under electricity laws and for the purposes of meeting the company’s green energy needs, optimising energy cost. CMJPL shall offer the captive open access model to supply power to the company, in the state of Gujarat.
Earlier, the company had entered into definitive agreements to acquire 36.13% equity shares of CMJPL.
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.
