Anupam Rasayan surges on renewing long-term contract worth USD 53 million!
Shares of Anupam Rasayan gained more than 20% in the last one month.
Supply of Patented Life Science Speciality Chemical
Anupam Rasayan India has renewed long-term contract worth revenue of USD 53 million (Rs 436 crore) with one of the leading German multinational for the supply of patented life science speciality chemicals for the next 3 years on an exclusive basis. This renewal is in accordance with the automatic renewal clause agreed upon by the parties in the long-term agreement signed three years ago, following the completion of the original contract duration of three years.
Previously, Anupam Rasayan Limited, also signed a letter of intent worth revenue of USD 46 million (Rs 380 crores) with a leading American multinational company to supply new-age speciality chemical advanced intermediate for the next five years. And this product will be manufactured in the upcoming multipurpose manufacturing facilities. This new development with the American multinational company is expected to further boost Anupam Rasayan Limited's growth prospects in the specialty chemicals market. In last one month, the company has signed about three agreements with three multinational companies to supply its products.
Share price movement of Anupam Rasayan Limited
Today, the stock opened at Rs 1109.05, with a high and low of Rs 1147.50 and Rs 1106.55. Currently, the stock is trading at Rs 1116.35, down by 1.39%.
The stock has a 52-week high of Rs 1227.20 and a 52-week low of Rs 547.10. The company has ROE and ROCE of 9.16 and 11.0 and a market capitalisation of Rs 11,999 crore.
Incorporated in 1984, Anupam Rasayan India Ltd (ARIL) has two verticals: Life science-related speciality chemicals comprising products related to agrochemicals, personal care, and pharmaceuticals, and other speciality chemicals comprising specialty pigments and dyes, and polymer additives.
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