Anupam Rasayan signs LOI worth Rs 135 Cr with Multinational Chemical Company

Anupam Rasayan India Ltd (NSE, BSE: ANURAS), one of India's leading custom synthesis & speciality chemical players, has received and signed Letter of Intent (LOI) amounting Rs 135 crore with a Japanese Multinational Chemical company for supplying a life sciences related speciality chemical product. The company will enter into a long-term contract with the Japanese multinational firm for next four years to supply this life science related speciality chemical product.

Speaking about the order, Anand Desai, Managing Director of Anupam Rasayan, said, "This order will further strengthen our revenue and profitability visibility and also showcases the quality of the product allowing the customer to depend upon the company on long term basis making Anupam Rasayan, a preferred partner for these MNCs."

The speciality chemicals major is manufacturing products for over 66 domestic and international customers, including 24 multinational companies. The company has a long history of high customer retention and have been manufacturing products for select customers for over a decade. The company caters to a diverse base of Indian and global customers.

Shares of Anupam Rasayan India Limited was last trading in BSE at Rs. 741.5 as compared to the previous close of Rs. 736.1. The total number of shares traded during the day was 4941 in over 465 trades.

The stock hit an intraday high of Rs. 743.55 and intraday low of 724.6. The net turnover during the day was Rs. 3607160.

Source : Equity Bulls

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