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Aether Industries zooms on executing strategic supply agreement with Baker Hughes

28 Jun 2024 Evaluate

Aether Industries is currently trading at Rs. 944.95, up by 49.90 points or 5.58% from its previous closing of Rs. 895.05 on the BSE.

The scrip opened at Rs. 915.05 and has touched a high and low of Rs. 972.95 and Rs. 905.00 respectively. So far 71348 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1135.95 on 14-Jul-2023 and a 52 week low of Rs. 775.00 on 27-Mar-2024.

Last one week high and low of the scrip stood at Rs. 972.95 and Rs. 854.05 respectively. The current market cap of the company is Rs. 12526.66 crore.

The promoters holding in the company stood at 81.79%, while Institutions and Non-Institutions held 14.04% and 4.17% respectively.

Aether Industries has executed a Strategic Supply Agreement (SSA) with Baker Hughes. The SSA was executed on June 25, 2024 in USA. The effective date of the agreement is 25 June 2024; the initial term is 5 years, extendable by 3 additional one year terms, and thereafter extendable on yearly basis. 

A total of 6 products are included in the SSA for contract manufacturing by Aether Industries for Baker Hughes. All 6 products will be manufactured by Aether Industries for the first time in India and will be supplied to the global locations of Baker Hughes, with a significant supply dedicated for Indian domestic oil and gas applications. This project thus also represents a significant project for the ‘Make in India’ platform. 

Most products will be manufactured by Aether Industries’ 100% wholly owned subsidiary, Aether Speciality Chemicals, wherein the required assets, plants, and machineries have already been installed for the contract manufacturing of said products. The SSA cements Aether Industries’ relationship as a strategic contract manufacturing partner for Baker Hughes and paves the way for a much deeper association and business relationship between the two companies. 

Aether Industries is a specialty chemicals manufacturer in India focused on producing advanced intermediates and specialty chemicals involving complex and differentiated chemistry and technology core competencies.

Aether Industries Share Price

1180.15 -7.65 (-0.64%)
17-Apr-2026 16:59 View Price Chart
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