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The specialty chemicals company’s stock rose 3.4% on Monday.
Shares of Anupam Rasayan rose nearly 2% on Monday after the company announced it had signed two contracts with a European crop protection company for the supply of two new specialty chemicals related to life sciences. The specialty chemicals company’s stock rose to a high of 3.4% during the session.
Anupam Rasayan told the exchanges that the company will supply the two new life science-related specialty chemicals for the next three years under the contract. “These products will be manufactured at our existing manufacturing facilities,” the company said.
The stock has seen volatile trading over the past three months.Anupam Rasayan India is engaged in custom synthesis (CSM) and specialty chemical manufacturing and was incorporated in 1984. As of June 30, 2022, the company operates through its six manufacturing facilities in Gujarat, India with four facilities located at Sachin, Surat and two located at Jhagadia, Bharuch with total installed capacity of about 27,200 MT.
The Gujarat-based specialty chemicals company had on October 4 approved the allotment of over 68 lakh shares with a face value of Rs 10 each to eligible eligible institutional buyers at the issue price of Rs 725 per share. , totaling approximately Rs 50.00 million. The QIP opened on September 28 and ended on October 03.
(Edited by : Abhishek Jha)
