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Bodal Chemicals surges on plan to invest Rs 41 million in S P S Processors

  • Mar-20-2017
  • 15 Hrs IST

Bodal Chemicals is currently trading at Rs. 139.40, up by 1.95 points or 1.42% from its previous closing of Rs. 137.45 on the BSE.

The scrip opened at Rs. 138.40 and has touched a high and low of Rs. 141.90 and Rs. 137.80 respectively. So far 318586 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 155.00 on 06-Oct-2016 and a 52 week low of Rs. 63.00 on 18-Mar-2016.

Last one week high and low of the scrip stood at Rs. 141.90 and Rs. 134.00 respectively. The current market cap of the company is Rs. 1533.50 crore.

The promoters holding in the company stood at 65.55%, while Institutions and Non-Institutions held 4.56% and 29.89% respectively.

Bodal Chemicals has received approval for equity investment of Rs 41 million in S P S Processors, a company engaged in manufacturing of dye intermediates. BCL will hold 70% equity stake in S P S Processors after this investment.

BCL will also provide unsecured loan of about Rs 450 million to S P S Processors to make it debt free Company by retiring its existing total debt and also for expansion of its manufacturing capacities. The board of directors at its meeting held on March 20, 2017 has approved for the same.

Bodal Chemicals is an Integrated and Innovative company, offering end-to-end solution to its customers globally. The company is among world’s largest manufacturer and exporter of Dyes Intermediate, Dyestuff and Sulphuric Acid, with vertically and horizontally integrated who provides product solutions and service solution on fastest possible route to their customers.