Sudarshan Chemical soars on getting in-principle nod to sell entire investments in two subsidiaries
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Sudarshan Chemical is currently trading at Rs. 584.30, up by 17.90 points or 3.16% from its previous closing of Rs. 566.40 on the BSE.
The scrip opened at Rs. 578.00 and has touched a high and low of Rs. 589.30 and Rs. 573.70 respectively. So far 6696 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 613.00 on 27-Feb-2024 and a 52 week low of Rs. 363.15 on 16-Mar-2023.
Last one week high and low of the scrip stood at Rs. 602.35 and Rs. 557.40 respectively. The current market cap of the company is Rs. 4018.64 crore.
The promoters holding in the company stood at 35.82%, while Institutions and Non-Institutions held 17.81% and 46.37% respectively.
Sudarshan Chemical Industries has received in-principle approval to sell entire investment (in the form of Equity Shares) in Sudarshan Japan (also known as Sudarshan Japan K. K.), Wholly Owned Subsidiary of the Company to Sudarshan Europe B.V., other Wholly Owned Subsidiary of the Company.
The company has also received approval to sell entire investment (in the form of Equity Shares) in Sudarshan (Shanghai) Trading Company, Wholly Owned Subsidiary of the Company to Sudarshan Europe B.V., other Wholly Owned Subsidiary of the Company.
Pursuant to the aforesaid transactions, Sudarshan Japan and Sudarshan (Shanghai) Trading Company would cease to be direct Subsidiaries of the Company and will become Step-Down Subsidiaries of the Company. The board of directors at its meeting held on March 06, 2024 approved the same.
Sudarshan Chemical Industries is a leading, world-class colour solutions provider with a strong global outreach in the production of performance colorants, an extensive range of Organic, Inorganic and Pearlescent pigments as well as Dispersions.
