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Thirumalai Chemicals shines on getting nod to set up subsidiary in US

26 Jul 2019

Thirumalai Chemicals is currently trading at Rs. 63.90, up by 2.05 points or 3.31% from its previous closing of Rs. 61.85 on the BSE.

The scrip opened at Rs. 62.00 and has touched a high and low of Rs. 65.50 and Rs. 58.70 respectively. So far 75452 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 179.25 on 17-Aug-2018 and a 52 week low of Rs. 58.70 on 26-Jul-2019.

Last one week high and low of the scrip stood at Rs. 71.55 and Rs. 58.70 respectively. The current market cap of the company is Rs. 644.02 crore.

The promoters holding in the company stood at 41.63%, while Institutions and Non-Institutions held 2.54% and 55.84% respectively.

Thirumalai Chemicals has received an approval to set up a subsidiary to establish and operate a Food Ingredients Manufacturing facility (including Malic and Fumaric Acid) in the US, with a capacity of about 30,000 metric tons per year, to address the growing demand in the global market, including North America. The Board of the company at its meeting held on July 25, 2019, approved the same.

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.

Related Thirumalai Chemicals Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323