Jindal Poly Films is currently trading at Rs. 169.90, up by 16.30 points or 10.61% from its previous closing of Rs. 153.60 on the BSE.
The scrip opened at Rs. 156.25 and has touched a high and low of Rs. 171.00 and Rs. 156.00 respectively. So far 1,30,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 229.00 on 25-Oct-2012 and a 52 week low of Rs. 135.35 on 15-Feb-2013.
Last one week high and low of the scrip stood at Rs. 159.00 and Rs. 151.50 respectively. The current market cap of the company is Rs. 714 crore.
The promoters holding in the company stood at 74.63% while Institutions and Non-Institutions held 7.24% and 18.13% respectively.
Jindal Poly Films, a leading flexible packaging films producer, has acquired Global BOPP films business of ExxonMobil Chemical (ExxonMobil). The company has entered into agreements concerning the acquisition on May 03, 2013 for a consideration of approximately $235 million, which is subject to customary price adjustments. The transaction is expected to close by the end of July 2013. This acquisition will make Jindal Poly Films one of the leading manufacturers of flexible packaging films globally with a combined capacity of approximately 445,000 tons/annum for BOPP films.
The company had earlier in the month of October 2012, signed a Framework Agreement for acquiring the Global BOPP Film business of ExxonMobil, which was a prelude to the agreements signed on May 03, 2013.
The transaction covers five BOPP production locations in the US and Europe. The manufacturing sites are in Georgia and Oklahoma in the US and in Italy, the Netherlands, and Belgium in Europe. The transaction also includes a technology center and sales office in Rochester, New York, and an office in Luxembourg. Approximately 1,500 people work in those operations.
Jindal Poly Films is a part of the diversified B C Jindal group. The group has interests in flexible packaging, photographic products, thermal power generation and steel products. It has the world’s single largest site for production of BOPP and BOPET films at Nasik, India. Its current combined capacity of BOPET and BOPP is 337,000 tons/annum and its annual sales turnover as on March 2012 was $452 million.
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