Anupam Rasayan surges on signing agreement to set up three new plants at Rs 670 crore!

Anupam Rasayan surges on signing agreement to set up three new plants at Rs 670 crore!

by 5paisa Research Team Last Updated: Mar 23, 2023 - 06:15 pm 390 Views

Shares of the company have gained more than 22% on a YTD basis.

Setting up three new plants

Anupam Rasayan India has signed a memorandum of agreement with the Gujarat government for setting up three new plants in Surat and Bharuch with an investment of Rs 670 crore. The company aims to commission these plants before 2025. The investment of Rs 670 crore is in line with the strategic move to expand the company’s operations and strengthen its manufacturing capabilities. 

A large part of the plants will focus on manufacturing Fluorochemicals which will service the demands of existing and potential clients catering to agrochemical, polymers and pharma sectors in Japan, Europe and the US. The new units will bolster the company's growth prospects and allow it to diversify its product offering.

Share price movement of Anupam Rasayan India Limited

Today, the stock opened at Rs 826.40, with a high and low of Rs 856 and Rs 821.20. The stock previously closed at Rs 828.10. The stock closed trading today at Rs 852.40, up by 2.93 per cent.

The stock has a 52-week high of Rs 928 and a 52-week low of Rs 547.10. The company has a market capitalisation of Rs 9,160.28 crore. 

Company profile 

Anupam Rasayan India is one of the leading companies engaged in the custom synthesis and manufacturing of speciality chemicals in India. It commenced business as a partnership firm in 1984 as a manufacturer of conventional products and has, over the years, evolved into custom synthesis and manufacturing of life science-related speciality chemicals and other speciality chemicals, which involve multi-step synthesis and complex technologies, for a diverse base of Indian and global customers. 

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