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Panama Petrochem shines on setting up wholly owned subsidiary in UAE

08 Jan 2013 Evaluate

Panama Petrochem is currently trading at Rs. 134.05, up by 0.20 points or 0.15% from its previous closing of Rs. 133.85 on the BSE.

The scrip opened at Rs. 134.10 and has touched a high and low of Rs. 134.10 and Rs. 134.05 respectively. So far 110 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 249.70 on 17-Jan-2012 and a 52 week low of Rs. 127.00 on 17-Dec-2012.

Last one week high and low of the scrip stood at Rs. 140.00 and Rs. 133.00 respectively. The current market cap of the company is Rs. 120.24 crore.

The promoters holding in the company stood at 43.90% while Institutions and Non-Institutions held 0.16% and 27.43% respectively.

Panama Petrochem, India’s leading manufacturers and exporter of petroleum company has opened up its wholly owned subsidiary in United Arab Emirates (UAE) in the name of Panol Industries RMC FZE.

Panama Petrochem manufactures more than 80 product variants vital for nearly six to seven industry segments. They are in league with the giants of each industry. They are in collaboration with Lubcon, Germany for distribution of their specialized products.

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