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Atul spurts on inking letter of intent with AkzoNobel

28 Apr 2016 Evaluate

Atul is currently trading at Rs 1838.65, up by 12.60 points or 0.69% from its previous closing of Rs. 1826.05 on the BSE.

The scrip opened at Rs 1826.00 and has touched a high and low of Rs 1860.00 and Rs 1805.50 respectively. So far 9178 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1847.00 on 26-Apr-2016 and a 52 week low of Rs. 1083.35 on 15-Jun-2015.

Last one week high and low of the scrip stood at Rs. 1847.00 and Rs. 1742.30 respectively. The current market cap of the company is Rs. 5457.76 crore.

The promoters holding in the company stood at 50.95% while Institutions and Non-Institutions held 18.55% and 30.51% respectively.

AkzoNobel and Atul have signed a letter of intent to explore the feasibility of setting up a manufacturing joint venture for the production of monochloroacetic acid (MCA) in India. The two companies plan to install a world scale MCA plant at Atul's facility in Gujarat, subject to the necessary regulatory approvals, building on Atul's status as a leading supplier of crop protection chemicals (which uses MCA as a key raw material) and AkzoNobel's leading global position in MCA, with plants in the Netherlands, China, Japan and the US.

The intended joint venture will use chlorine and hydrogen manufactured by Atul to produce MCA, taking advantage of Atul's existing infrastructure and AkzoNobel's latest eco-friendly hydrogenation technology. The proposed facility will mainly serve the Indian MCA market, as well as meeting the captive requirements of Atul.

Atul is a member of Lalbhai Group, one of the oldest business houses of India, with interests mainly in textiles and chemicals. The Group is strongly committed to serve the society in the fields of education, health as well as culture.

Atul Share Price

6592.15 -4.40 (-0.07%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
BASF India 3703.10
Tata Chemicals 709.05
SRF 2493.65
Pidilite Inds. 1393.25
Deepak Nitrite 1538.00
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