Zuari Industries is currently trading at Rs. 183.75, up by 6.10 points or 3.43% from its previous closing of Rs. 177.65 on the BSE.
The scrip opened at Rs. 184.90 and has touched a high and low of Rs. 185.25 and Rs. 180.70 respectively. So far 8631 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 216.85 on 05-Apr-2022 and a 52 week low of Rs. 122.65 on 21-Sep-2021.
Last one week high and low of the scrip stood at Rs. 185.25 and Rs. 176.40 respectively. The current market cap of the company is Rs. 523.01 crore.
The promoters holding in the company stood at 56.81%, while Institutions and Non-Institutions held 1.25% and 41.94% respectively.
Zuari Industries has signed Memorandum of Understanding (MoU) with Envien International, Malta (EIL) and Zuari Envien Bioenergy (ZEBPL) to build and operate a biofuel distillery and further explore the organic and inorganic business opportunities in the biofuel space in India.
In order to achieve the said objective, the company and EIL have consented to establish a 50:50 joint venture which shall inter alia design, construct, commission and operate a 150 kilo litres per day (KLPD) Ethanol distillery and sell the same to Oil Marketing Companies (OMCs) to meet their blending requirements. The distillery will also have the flexibility to vary the product mix and manufacture Extra Neutral Alcohol (ENA) or any other suitable product based on the market need and requirement.
The MoU is an extension of an earlier signed MoU between the company and AZV, a.s (an Envien Group company) for setting up a sugarcane juice based 210 KLPD ethanol plant. The company is also working on increasing the capacity of its existing 100 KLPD molasses/sugarcane juice based plant to 125 KLPD, which is expected to start commercial production in the upcoming sugar season.
Zuari Industries is engaged in the manufacture of urea and complex fertilisers
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