Deep Polymers enters into an MoA with IIT Guwahati
Deep Polymers will invest in plant and machinery for the development of biodegradable plastic and related technologies.
Deep Polymers has entered into a Memorandum of Agreement (MoA) with the Indian Institute of Technology, Guwahati (IITG) under IITG- Common Research & Technology Development Hub (CRTDH) which is funded by the Department of Scientific & Industrial Research (DSIR), Ministry of Science and Technology, New Delhi.
As per the said MOA, IIT Guwahati undertakes to perform Professional Services as may be necessary. Deep Polymers shall make investment/availability of plant and machinery for the development of biodegradable plastic and related technologies, provide its services for R&D, training of manpower and technology dissemination related to biodegradable plastics, products development and its utilization of commercialization on mutually agreed conditions under the CRTDH which is Funded by DSIR, Ministry of Science and Technology, Government of India.
Deep Polymers is engaged in manufacturing colour and additive masterbatches for engineering plastics and compounds that include a wide range of quality products like antifab fillers, transparent fillers, and colour fillers, which are used as cost-effective replacements for polymers and act as anti-fibrillating, anti-blocks, anti-slip agents.
Today, the stock opened at Rs 149.90, with a high and low of Rs 149.90 and 145.30. The stock previously closed at Rs 146.80. Currently, it is trading at Rs 146.25 down by 0.37%.
In the last 6 months, the shares of the company have given -30.13% returns and on a YTD basis, the stock has given -66.63% returns. The shares of this company are in a downtrend for the last one year.
The stock has a 52-week high of Rs 458.23 and a 52-week low of 142. The company has a ROCE of 27.6% and an ROE of 27.0% with a market capitalisation of Rs 336.85 crore.
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