Vinati Organics jumps on envisaging capex of about Rs 150 crore
Vinati Organics is currently trading at Rs. 1035.00, up by 26.75 points or 2.65% from its previous closing of Rs. 1008.25 on the BSE.
The scrip opened at Rs. 990.00 and has touched a high and low of Rs. 1037.00 and Rs. 990.00 respectively. So far 6533 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 1255.50 on 23-Sep-2019 and a 52 week low of Rs. 651.00 on 25-Mar-2020.
Last one week high and low of the scrip stood at Rs. 1074.25 and Rs. 990.00 respectively. The current market cap of the company is Rs. 10623.04 crore.
The promoters holding in the company stood at 74.06%, while Institutions and Non-Institutions held 11.25% and 14.69% respectively.
Vinati Organics, as part of its growth and expansion plans is envisaging a capex of about Rs 150 crore aimed for manufacturing 4 new specialty chemicals and for expanding the present capacity of the PTBBA plant.
These new products will be used in sectors like agrochemicals, dyes and plastic additives. Further the capex is expected to derive additional revenues of about Rs 240 crore and is expected to be completed during the FY21.
Vinati Organics is a specialty chemical company producing organic intermediates, monomers and polymers.