Specialty Chemicals Co Inks Rs 507-Cr LOI With Japanese firm, Shares Dip 2.52% In 1-Week

Small cap company operating in specialty chemicals sector Anupam Rasayan shares witnessed a decline of 0.26% intraday and 2.52% in last 1-week. Last trading price of Anupam Rasayan stock on BSE is Rs 1004.50 apiece on BSE. The company has a market capitalisation of Rs 10,809.49 crore. Anupam Rasayan issued a BSE filing on December 25 stating that it has signed a Letter of Intent (LOI) worth revenue of $61 million (Rs 507 crores) for next 9 years with one of the leading Japanese Multi National Chemical company.

According to the press release issued by Anupam Rasayan, "The supply will commence in CY2024. This product will be manufactured in our existing and new multipurpose manufacturing facilities."

Speaking about the LOI, Anand Desai, Managing Director of Anupam Rasayan, said, "We are pleased to announce that we have signed the LOI with a renowned Japanese multinational, who we are excited to add in our customer portfolio to whom we will be supplying this new age polymer intermediate."

Anupam Rasayan Stock Performance & Return: Current market price of Anupam Rasayan shares on BSE is Rs 1004.45 per share with intraday dip of 0.26%. Its 52-week high price is Rs 1249.75 per share and 52-week low price is Rs 570.00 per share, respectively. Anupam Rasayan shares fell 4.97% in last 2-weeks, gained 14% in last 3-months, declined 2.30% in last 6-months, offered return of 45% year-to-date, and gained 53% in last 1-year. In last 2-years, Anupam Rasayan stocks surged 11%.

About Anupam Rasayan: 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. The Company caters to a diverse base of Indian and global customers. It is currently manufacturing products for over 73 domestic and international customers, including 29 multinational companies.

Disclaimer:

The stock highlights the share performance after inking LOA with Japanese firm and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.