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Anupam Rasayan shares rise after supply deal with European crop protection company

Anupam Rasayan shares rise after supply deal with European crop protection company

Anupam Rasayan shares rise after supply deal with European crop protection company
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By Asmita Pant  Oct 17, 2022 12:56:05 PM IST (Published)

The stock of the speciality chemical company rose as much as 3.4 percent on Monday.  

The shares of Anupam Rasayan rose almost two percent on Monday after the company said it has signed two contracts with a European crop protection company for supplying two new life science-related speciality chemicals. The stock of the speciality chemical company hit a high of 3.4 percent in the session.

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Anupam Rasayan has told the exchanges that the company will supply the two new life science-related speciality chemicals for the next three years under the contract. "These products will be manufactured in our existing manufacturing facilities," the company said.
The stock has witnessed volatile trade in the past three months.
Anupam Rasayan India is engaged in the custom synthesis (CSM) and manufacturing of speciality chemicals and was incorporated in 1984. As of June 30, 2022, the company operates via its six manufacturing facilities in Gujarat, India, with four facilities located at Sachin, Surat and two located at Jhagadia, Bharuch with an aggregate installed capacity of about 27,200 MT.
The Gujarat-based speciality chemicals company had on October 4, approved allotment of over 68 lakh equity shares of face value Rs 10 each to eligible qualified institutional buyers at the issue price of Rs 725 per equity share aggregating to approximately Rs 50,00 million. The QIP opened on September 28 and closed on October 03.
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