Vishnu Chemicals rises on incorporating wholly owned subsidiary in Dubai
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Vishnu Chemicals is currently trading at Rs. 325.75, up by 3.85 points or 1.20% from its previous closing of Rs. 321.90 on the BSE.
The scrip opened at Rs. 324.05 and has touched a high and low of Rs. 325.80 and Rs. 321.35 respectively. So far 497 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 385.30 on 31-Jul-2023 and a 52 week low of Rs. 245.05 on 06-Mar-2023.
Last one week high and low of the scrip stood at Rs. 327.35 and Rs. 313.60 respectively. The current market cap of the company is Rs. 2109.32 crore.
The promoters holding in the company stood at 68.36%, while Institutions and Non-Institutions held 8.27% and 23.36% respectively.
Vishnu Chemicals has incorporated wholly owned subsidiary in Dubai, UAE namely ‘Vishnu International Trading FZE’. Vishnu International Trading FZE is engaged in business of trading of chemicals. Initial subscription to the Wholly-Owned Subsidiary is 500 shares of United Arab Emirates Dirham 10 each aggregating to United Arab Emirates Dirham 5000 (Approximately Rs 1,14,000).
Vishnu Chemicals pioneered manufacturing chrome chemicals like sodium dichromate, potassium dichromate, basic chromium sulphate and yellow sodium sulphate at its plants in Medak District in Andhra Pradesh and Bhilai in Chattisgarh.
