Vinati Organics rises on getting nod to incorporate wholly owned subsidiary
Vinati Organics is currently trading at Rs. 1749.95, up by 10.15 points or 0.58% from its previous closing of Rs. 1739.80 on the BSE.
The scrip opened at Rs. 1709.20 and has touched a high and low of Rs. 1782.70 and Rs. 1703.30 respectively. So far 2282 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2331.05 on 09-Aug-2024 and a 52 week low of Rs. 1462.70 on 01-Apr-2024.
Last one week high and low of the scrip stood at Rs. 1782.70 and Rs. 1582.55 respectively. The current market cap of the company is Rs. 18140.97 crore.
The promoters holding in the company stood at 74.28%, while Institutions and Non-Institutions held 12.91% and 12.81% respectively.
Vinati Organics has received approval for the incorporation/establishment of a Wholly Owned Subsidiary (WOS) of the Company in the United States of America. The incorporation of WOS is to expand the company’s business operations offshores. The WOS will primarily handle the manufacturing & sale of Vinati Organics products and in future, this entity will help to explore other opportunities in the U.S. market. The Board of Directors of the company at its meeting held on February 1, 2025, inter-alia, considered and approved the same.
Vinati Organics, Established in 1989, is a specialty chemical company, focusing on manufacturing specialty chemicals and organic intermediaries.
