Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Seya Industries maiden foray into China for supply of specialty chemical intermediate

Posted On: 2019-10-14 12:55:14


Seya Industries Limited, Mumbai based emerging leader in Specialty chemicals industry, has entered into a Long-term export contract for Supply of one of its key products to a major Chinese Specialty Chemical Company. The supply contract is initially for a period of one year and of approximately USD 5 million. The contract is extendable for a period of 3(three) years with Total Value of upto USD 20 million. Seya has commenced the exports for the contract.

The Chinese market is a huge target potential for Seya's products. The maiden foray through this contract will open up the market potential in the medium term. The long-term contract would contribute to sustainable volume pick up and utilization of its existing capacity. As a part of this contract terms, the customer shall provide a certain advance to the company in instalments, which shall be adjusted against supplies in future.

Seya is one of India's leading producer of Benzene-based specialty chemical intermediates at a single location with fully backward and forward integrated product plants using cutting edge technology. The product is a part of Company's existing portfolio and the Company does not have to do any new capex.

Commenting on the performance Mr. Ashok Rajani, Chairman & Managing Director, Seya Industries Ltd said "We are very delighted with the commencement of long-term export contract for Supply of one of our key products to a major Chinese Specialty Chemical Company. This is in line with Company's strategy at bagging new market opportunities and strengthening its position into high margin product portfolio. The Company has apparently moved up in the value chain.

Overall in the Global Chemical industry, there has been shift in the manufacturing base from China to India due to varied issues China is going through. We believe the shift is more structural in nature and feel the opportunity in our segment is quite sizeable. Keeping this demand in mind, we have maiden foray through this contract into Chinese market and going ahead will be strengthening our presence in this market. This deal will boost our growth trajectory further."

Shares of SEYA INDUSTRIES LTD. was last trading in BSE at Rs.371.8 as compared to the previous close of Rs. 371.9. The total number of shares traded during the day was 2487 in over 52 trades.

The stock hit an intraday high of Rs. 379.9 and intraday low of 365.3. The net turnover during the day was Rs. 926222.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

CRISIL reaffirms commercial papers rating of Edelweiss Financial Services Limited

Gulshan Polyols Ltd Q4 PAT at Rs. 2.78 crore

Alkem Laboratories Ltd Board to consider FY20 results & Final Dividend on June 05, 2020

Wonderla Holidays Ltd Q4 FY20 PAT slides to Rs. 1.56 crore

S H Kelkar and Company Ltd consolidated Q4 FY2020 PAT at Rs. 12.02 crore

Kewal Kiran Clothing Ltd posts Rs. 15.76 crore consolidated PAT in Q4 FY2020

Gujarat Gas Ltd board to consider FY20 results, dividend on June 5, 2020

Kewal Kiran Clothing Ltd Board approves Dividend of Rs. 6

Deepak Nitrite Ltd reports consolidated PAT of Rs. 172.30 crore in Q4 FY2020

Coromandel International Ltd board recommends dividend of Rs. 12 for FY2020

Fiinovation Partners with Dhampur Sugar to help Delhi Slums Fight COVID-19 Pandemic

LTI Wins 2020 SAP® Pinnacle Award as the Industry Innovation Partner of the Year

Kotak Mahindra Bank fixes floor price for QIP as Rs. 1147.75

Wipro launches Global Channel Partner Program for innovative products and platforms

Shanthi Gears Limited announces financial results for period ended March 31, 2020

V I P Industries Ltd reports consolidated Q4 FY20 PAT at Rs. 9.52 crore

Coromandel International Ltd Q4 FY20 consolidated net profit at Rs. 234.20 crore

PRAJ Industries Ltd posts Rs. 24.86 crore PAT in Q4 FY20

Visaka Industries Ltd reports Q4 PAT of Rs. 6.85 crore

Maruti Suzuki partners with ICICI bank to offer customers specially curated, flexible EMI financing schemes

ITI Limited manufactures face shields -Joins fight against COVID19

Sundaram Finance Ltd board to consider final dividend for FY20

Add-Shop Promotions Ltd Board approves 3:4 Bonus Issue

Satia Industries Limited Signs Agreement with Minerals Technologies to Construct a 42,000 Metric Ton Per Year Satellite PCC Plant in India

Vakrangee announces corporate agency tie up with LIC

Symphony Limited board to announce 4th quarter results on May 29, 2020

Firstsource Solutions Ltd Q4 FY20 consolidated PAT climbs QoQ to Rs. 91.57 crore

Automotive Axles Ltd posts PAT of Rs. 5.75 crore in Q4

Daawat Basmati Rice celebrates relationships with # PehliDaawat Campaign

Newgen Software Technologies Ltd Board approves dividend of Rs. 2 for FY20

Automotive Axles Ltd board recommends dividend of Rs. 0.80

Newgen Software Technologies Ltd Q4 FY20 consolidated PAT up QoQ at Rs. 41.46 crore

McDonald's India Introduces Contactless Take-Out Service For Customers

Infosys and Avaloq Partner to Strengthen Wealth Management Capabilities through Digital Platforms

Reliance Power wins lawsuit in Indonesian Court, to get arbitration award of $68 million

Menon Bearings Ltd Q4 PAT at Rs. 3.30 crore

Indoco receives USFDA approval for Succinylcholine Chloride Injection USP

Steel Strips Wheels Ltd's tractor segment production running at 90% capacity

Orient Electric Ltd board to announce Q4, FY20 results, final dividend on June 1, 2020

Customer Safety in focus: Maruti Suzuki issues safety norms for True Value

Glenmark to commence another new Phase 3 clinical trial on a combination of two anti-viral drugs Favipiravir and Umifenovir in hospitalized patients of moderate COVID-19 in India

Zuari Agro Chemicals Ltd's NPK-A plant resumes operation from May 25, 2020

Polyplex Corporation Ltd Q4 FY2020 consolidated PAT falls to Rs. 22.97 crore

InterGlobe Aviation Ltd board to consider Q4, FY20 results on June 2, 2020

Jubilant Life Sciences Ltd board to approve FY20 results, NCD issue on May 29, 2020

Polyplex Corporation Ltd Board approves final dividend of Rs. 6

IndiGo updates on operations

V-Guard extends support towards fighting Covid-19 crisis

Aptech Ltd reports consolidated loss of Rs. 7.27 crore in Q4 FY20

Music Broadcast Lts has Strong Balance Sheet with cash reserves of Rs. 220 Crores







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019