Balaji Amines surges on receiving Environmental Ministry nod for project expansion in Maharashtra

07 Jul 2017

Balaji Amines is currently trading at Rs. 375.15, up by 22.95 points or 6.52% from its previous closing of Rs. 352.20 on the BSE.

The scrip opened at Rs. 372.30 and has touched a high and low of Rs. 382.00 and Rs. 360.10 respectively. So far 14,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 401.10 on 24-Apr-2017 and a 52 week low of Rs. 249.20 on 14-Jul-2016.

Last one week high and low of the scrip stood at Rs. 382.00 and Rs. 329.10 respectively. The current market cap of the company is Rs. 1,216.50 crore.

The promoters holding in the company stood at 54.46%, while Institutions and Non-Institutions held 4.22% and 41.32% respectively.

Balaji Amines has received approval from Ministry of Environment, Forest and Climate Change, Government of India for its expansion project which includes Acetonitrile (ACN), Morpholine (MOR) & Di Methyl Amine Hydrochloride (DMAHCL) products, situated at Plot No.E-7 & 8, MIDC Chincholi, Mohol taluka, Solapur district in Maharashtra with a condition of NOC from National Board for Wild Life for which the company has already applied to the Government of India.

Balaji Amines is engaged in manufacturing of methylamines, ethylamines, derivatives of specialty chemicals and natural products. The company was set up to cater to the growing requirements of value based Specialty Chemicals.


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