Thirumalai Chemicals surges on getting nod for formation of WOS in Netherlands

08 Jan 2019

Thirumalai Chemicals is currently trading at Rs. 107.35, up by 1.10 points or 1.04% from its previous closing of Rs. 106.25 on the BSE.

The scrip opened at Rs. 106.50 and has touched a high and low of Rs. 109.25 and Rs. 105.65 respectively. So far 25246 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 243.70 on 09-Jan-2018 and a 52 week low of Rs. 101.70 on 11-Dec-2018.

Last one week high and low of the scrip stood at Rs. 114.30 and Rs. 104.25 respectively. The current market cap of the company is Rs. 1094.53 crore.

The promoters holding in the company stood at 41.52%, while Institutions and Non-Institutions held 3.48% and 55.00% respectively.

Thirumalai Chemicals has received approval from its board for formation of a Wholly Owned Subsidiary (WOS) in the Netherlands for marketing and distribution of the company’s products in Europe and other countries. The subsidiary in Europe will also handle REACH Compliances. The initial investment will be up to euro 200,000.

Thirumalai Chemicals manufactures and markets organic acids, anhydrides and derivatives for a variety of global industries including plastics, resins, paints, and coatings, agro chemicals, food, pharmaceuticals, textiles, personal care, paper, etc.

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