Tamilnadu Petroproducts gains on commencing production of Propylene Oxide

29 Jan 2019

Tamilnadu Petroproducts is currently trading at Rs. 33.30, up by 0.20 points or 0.60% from its previous closing of Rs. 33.10 on the BSE.

The scrip opened at Rs. 33.30 and has touched a high and low of Rs. 33.30 and Rs. 32.85 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 70.00 on 27-Feb-2018 and a 52 week low of Rs. 29.50 on 05-Jul-2018.

Last one week high and low of the scrip stood at Rs. 38.50 and Rs. 32.85 respectively. The current market cap of the company is Rs. 297.81 crore.

The promoters holding in the company stood at 34.54%, while Institutions and Non-Institutions held 8.94% and 56.52% respectively.

Tamilnadu Petroproducts has commenced production of Propylene Oxide, an Industrial intermediate chemical, on January 28, 2019. The production facility, which would cater to the domestic market, has been set up by conversion of the erstwhile ECH manufacturing plant which was shut down in 2013.

Tamilnadu Petroproducts is engaged in manufacturing and selling of commodity chemicals. The products are used as raw materials in various industries i.e. involved in the manufacturing of detergents and cleaning agents, lubricants, epoxy resins, pharmaceuticals and textiles.

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