Atul Ltd (Atul) had signed a Joint Venture Agreement on March 01, 2012 with Elkay Kimyasal Maddeler SAN. TIC. A.S. based in Turkey (Eikay) for promoting stone care chemicals in India. Other Indian parties included, Atul Elkay Polymers Ltd and Lapox Polymers Ltd, group companies of Atul Ltd.
In view of changed circumstances and subsequent experience, it became clear that the Joint Venture was beneficial to neither and the parties terminated the Joint Venture Agreement on June 07, 2019 by mutual consent. The termination will not have any impact on Atul Ltd (as well as the counterparty).
Shares of ATUL LTD. was last trading in BSE at Rs.4035 as compared to the previous close of Rs. 4008.45. The total number of shares traded during the day was 919 in over 203 trades.
The stock hit an intraday high of Rs. 4051 and intraday low of 3988. The net turnover during the day was Rs. 3707016.