Vinati Organics gains on incorporating subsidiary company

06 Oct 2020 Evaluate

Vinati Organics is currently trading at Rs. 1305.20, up by 11.35 points or 0.88% from its previous closing of Rs. 1293.85 on the BSE.

The scrip opened at Rs. 1320.00 and has touched a high and low of Rs. 1320.00 and Rs. 1289.10 respectively. So far 292 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1417.95 on 29-Sep-2020 and a 52 week low of Rs. 651.00 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1390.80 and Rs. 1289.10 respectively. The current market cap of the company is Rs. 13298.46 crore.

The promoters holding in the company stood at 74.06%, while Institutions and Non-Institutions held 11.25% and 14.69% respectively.

Vinati Organics has subscribed to the Memorandum & Articles of Associations to the extent of 99% of the Share Capital of Veeral Organics, which has been incorporated under the Indian Companies Act, 2013 on October 5, 2020. By virtue of the same subscription, Veeral Organics becomes the subsidiary of the company with effect from October 5, 2020. The business of subsidiary is manufacturing of the Organics Fine Speciality Chemicals and is in line of the business of Vinati Organics.

Vinati Organics is a specialty chemical company producing organic intermediates, monomers and polymers.

Vinati Organics Share Price

1471.00 -35.25 (-2.34%)
28-Mar-2024 16:01 View Price Chart
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