Rs 1,500 crore letter of intent signed by this speciality chemical company

This speciality chemical share surged over 2.36% today.

About the letter of intent 

Anupam Rasayan one of the top companies in India for custom synthesis and speciality chemicals has signed a letter of intent worth USD 182 million (roughly Rs 1,500 crore) for the next seven years with a major Japanese multinational to produce and supply three highly valuable speciality chemicals. In current manufacturing facilities, this product will be produced.

Price Action Of Anupam Rasayan India Ltd 

Anupam Rasayan India Ltd is currently trading at Rs 969.40, up by 22.40 points or 2.36% from its previous closing of Rs 950 on the BSE.

The scrip opened at Rs 246 and has touched a high and low of Rs 986.25 and Rs 941.05 respectively. So far 20,305 shares were traded on the counter.

The BSE group 'A' stock of face value of Rs 10 has touched a 52-week high of Rs 986.25 and a 52-week low of Rs 547.10. The current market cap of the company is Rs 10,434.28 crore. 

The promoters holding in the company stood at 60.96%, while Foreign Institutions and Domestic Institutions held 8.19% and 6.18% respectively.

Company profile 

Anupam Rasayan India Ltd (ARIL) is one of the leading companies engaged in the custom synthesis (CSM) and manufacturing of speciality chemicals in India. Incorporated in 1984, the speciality chemicals major has two verticals: Life science-related Specialty Chemicals comprising products related to Agrochemicals, Personal Care and Pharmaceuticals, and Other Specialty Chemicals comprising Specialty Pigment and Dyes, and Polymer Additives.

The company caters to a diverse base of Indian and global customers. It is currently manufacturing products for over 71 domestic and international customers, including 27 multinational companies. It operates via its six manufacturing facilities in Gujarat, India, with four facilities located at Sachin, Surat and two located at Jhaghadia, Bharuch with an aggregate installed capacity of about 27,000 MT as of 31st December 2022.