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Anupam Rasayan stock gains 7% on inking Rs 135-crore deal with Japanese firm

Anupam Rasayan stock gains 7% on inking Rs 135-crore deal with Japanese firm

Anupam Rasayan share rose up to 7.28% against previous close of Rs 737.95 on BSE

Anupam Rasayan stock gains 7% on post inking Rs 135-crore deal with Japanese firm Anupam Rasayan stock gains 7% on post inking Rs 135-crore deal with Japanese firm

Share of Anupam Rasayan India gained over 7 percent today after the firm inked a Letter of Intent (LoI) amounting to Rs 135 crore with a Japanese multinational chemical company.  Anupam Rasayan share rose up to 7.28% against previous close of Rs 737.95 on BSE.

Market cap of the firm rose to Rs 7,554.13 crore on BSE. Total 0.27 lakh shares of the firm changed hands amounting to turnover of Rs 2.05 crore.

The company received and signed a Letter of Intent (LoI) amounting to Rs 135 crore with a Japanese multinational chemical company for supplying a life sciences-related speciality chemical product, the company said in a press release.

The company will enter into a long-term contract with the Japanese multinational firm for the next four years to supply this life science-related speciality chemical product.

"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," said Anand Desai, Managing Director of Anupam Rasayan.

On March 24 this year, Anupam Rasayan share listed at a discount of 6% to its IPO issue price. The share of the speciality chemical company opened at Rs 520, 6.3% lower against issue price of Rs 555 on NSE.

On BSE, the share opened at Rs 534.70 against issue price of Rs 555, discount of 3.65%. The share further fell to Rs 501.15.  Market cap of the firm stood at Rs 5,179 crore. The firm opened its IPO on March 12.