Mid Cap Chemical Co Bags Order Worth 2186 Cr From Japanese Firm, Shares Jump

Mid cap company operating in Chemicals sector, Anupam Rasayan witnessed a rally of 1.28% in its shares on Wednesday after the company inked letter of intent (LoI) worth 2186 crore with Japanese Speciality Chemical company. There is also spurt in the volume by 4.42 times in Anupam Rasayan shares on June 14. Check details pertaining to the deal and stock performance below:

Anupam Rasayan Signs Deal LoI With Japanese Speciality Chemical Company: As per the BSE filing of the company, "Pursuant to Regulation 30 and other applicable regulations, if any, of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed Press Release titled "Anupam Rasayan signs Letter of Intent worth $265 Million (Rs 2,186 crores) with one of the Leading Japanese Speciality Chemical Company" which shall be issued by the Company today i.e. Tuesday, June 13, 2023."

Anupam Rasayan has signed LoI for next 5 years with to supply new age patented life science active ingredient. The product will be in validation phase for the next eighteen months and upon the successful validation, the supply will commence from CY2025. This product will be manufactured in its existing multipurpose manufacturing facilities.

Anand Desai, Managing Director of Anupam Rasayan, said, "We are pleased to announce that we will be the primary global supplier of this new age patented life science active ingredient to one of the leading Japanese specialty chemical companies with the support of our Japanese business development team. With the addition of this new customer, we are delighted to include another renowned Japanese multinational in our customer portfolio. As we are fully backward integrated for this molecule, we can provide supply chain assurance to the customer without dependencies on supplies from other geographies."

Anupam Rasayan Stock Performance & Return: Current market price of Anupam Rasayan stock is Rs 1101.80 per share on BSE. Its 52-week high price is Rs 1249.75 apiece and 52-week low price is Rs 547.10 apiece, respectively. Its market capitalisation is Rs 11,848.63 crore. Anupam Rasayan share gave return of 49% in last 3-months, 59% return YTD, 83% return in last 1-year, and 45% return in last 2-years.

Anupam Rasayan About: Anupam Rasayan India Ltd (ARIL) is one of the leading companies engaged in the custom synthesis (CSM) and manufacturing of specialty 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, Other Specialty Chemicals comprising Specialty Pigment and Dyes, and Polymer Additives.