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Sudarshan Chemical soars on buying cosmetics natural mica pearlescent portfolio

16 Dec 2011

Sudarshan Chemical is currently trading at Rs 525.00, up by 16.40 points or 3.22% from its previous closing of Rs 508.60 on the BSE.

The scrip opened at Rs 534.95 and has touched a high and low of Rs 534.95 and Rs 525.00 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs 798.40 on 02-Sep-2011 and a 52 week low of Rs 492.15 on 24-Nov-2011.

Last one week high and low of the scrip stood at Rs 559.95 and Rs 504.00 respectively. The current market cap of the company is Rs 352.09 crore.

The promoters holding in the company stood at 52.76% while Institutions and Non-Institutions held 3.70% and 43.55% respectively. 

Sudarshan Chemical Industries has purchased cosmetics natural mica pearlescent portfolio from Eckart. The purchase comprises all products under the well known brand names Prestige and Flonac - C that have been produced at Eckart's Finnish plant in Pori. Sudarshan will add the new pearlescent product lines Prestige and Flonac - C to their existing pearlescent pigment portfolio sold under the SUMICOS brand name. The complete portfolio will be manufactured at Sudarshan's facilities at Roha and Mahad, Maharashtra, India.

Earlier on December 15, 2011, Sudarshan Chemical Industries had entered into an asset purchase agreement with Eckart GmbH, Germany and its Affiliates (part of the Altana Group) to purchase the Cosmetics portfolio based on natural mica.

Sudarshan Chemical Industries will conduct the business after closing planned on January 23, 2012 and consequently, Eckart and its Affiliates will exit from the cosmetic portfolio based on natural mica.

Sudarshan Chemical is engaged in the production of organic and inorganic pigments and intermediates and diversified into the production of Agrochemicals. It is a part of the Rathi group of companies and contributes about 70% to the total sales revenue of the Group. The company is divided into three Strategic Business Groups namely, Pigments, Effect Pigments and Agrochemicals with manufacturing facilities at Roha and Mahad in Maharashtra.

Related Sudarshan Chemical Industries Ltd. Links:

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