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JBF Industries soars as its step down arm enters into long term pact with ONGC Mangalore Petrochemicals

18 Apr 2016 Evaluate

JBF Industries is currently trading at Rs. 213.30, up by 6.40 points or 3.09% from its previous closing of Rs. 206.90 on the BSE.

The scrip opened at Rs. 210.15 and has touched a high and low of Rs. 214.50 and Rs. 210.00 respectively. So far 12982 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 318.40 on 31-Jul-2015 and a 52 week low of Rs. 150.10 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 215.80 and Rs. 202.00 respectively. The current market cap of the company is Rs. 1739.78 crore.

The promoters holding in the company stood at 43.15% while Institutions and Non-Institutions held 16.69% and 40.17% respectively.

JBF Industries' step down subsidiary, JBF Petrochemicals has entered into a Long Term Agreement with ONGC Mangalore Petrochemicals (OMPL) for supply of Paraxylene, the main raw material for production of Purefied Terephthalic Acid (PTA).

JBF Petrochemicals is in the process of commissioning a 1.25 million Tonnes per annum PTA plant, using technology from BP, at Mangalore SEZ, Karnataka. Paraxylene will be supplied by OMPL to JBF Petrochemicals, through a dedicated pipeline about 3 km in length. The agreement entails supply of Paraxylene for a period of 10 years, with provision of further increasing the period of supply by another 5 to 10 years by mutual consent.

JBF Industries is an India-based company, which manufactures polyester chips, polyester yarn and processed yarn from polyester chips.

 

JBF Industries Share Price

4.42 0.00 (0.00%)
03-Oct-2023 18:03 View Price Chart
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