PI Industries gains on entering into JV agreement with Kumiai Chemical

22 Jun 2017

PI Industries is currently trading at Rs. 811.70, up by 1.30 points or 0.16% from its previous closing of Rs. 810.40 on the BSE.

The scrip opened at Rs. 815.05 and has touched a high and low of Rs. 822.75 and Rs. 808.75 respectively. So far 6161 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 950.10 on 02-Feb-2017 and a 52 week low of Rs. 655.00 on 24-Jun-2016.

Last one week high and low of the scrip stood at Rs. 822.75 and Rs. 807.45 respectively. The current market cap of the company is Rs. 11171.35 crore.

The promoters holding in the company stood at 51.55%, while Institutions and Non-Institutions held 35.31% and 12.98% respectively.

PI Industries (PI) and Kumiai Chemical Industry Co (Kumiai) have entered into an agreement to establish a Joint Venture Company (JVC) in India. This JVC is being set up initially to manufacture and distribute Bispyribac Sodium, one of the flagship agrochemical products of Kumiai, in India to achieve operational efficiencies and further growth.  Kumiai and PI, after due consultation, may also add more products to JVC portfolio in future for evaluation, manufacture, registration and distribution in India to leverage Pl's deep understanding of Indian agriculture, brand and reach with the Indian farmers and Kumiai's robust research and development capabilities for new products.

Incorporated in 1947, PI Industries focuses on complex chemistry solutions in agri sciences. Over the years, the Company has successfully leveraged its capabilities across the Agri Sciences value chain by providing integrated and innovative solutions to its customers by partnering with the best. Its business approach is built on the foundation of trust, integrity and IP protection. 

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323