Bodal Chemicals Ltd to acquire chemical plant from Mawana Sugar Ltd

The Board of Directors of Bodal Chemicals Ltd has approved draft Business Transfer Agreement (BTA) placed in table of Board and has given their consent to enter into BTA with Mawana Sugar Limited (MSL) to acquire Chemical Plant known as Siel Chemical Complex (SCC) situated at Rajpura (about 40 km away from Chandigarh), Punjab, India, subject to certain conditions set out in BTA. The proposed acquisition will help the Company in diversification of its existing chemicals product line by adding new products.

The acquisition of Plant/Unit is expected to get completed in next 2 months.

The Board of Directors have also approved enhancement capacity of 55,000 MTPA to 78960 for proposed project of Specialty Benzene downstream products at Saykha, Nr. Dahej.

Shares of BODAL CHEMICALS LTD. was last trading in BSE at Rs.75.2 as compared to the previous close of Rs. 73.95. The total number of shares traded during the day was 88307 in over 1038 trades.

The stock hit an intraday high of Rs. 75.7 and intraday low of 73.7. The net turnover during the day was Rs. 6611352.

Source : Equity Bulls

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