2025-08-29 16:55:51
Latest Post
Himadri Speciality Chemical Ltd Secures ISCC PLUS Certification
HCLSoftware delivers Digital Independence with AI-Powered Sovereign Collaboration Solutions for Business-Critical Infrastructure
Dr. Agarwal's Health Care Limited and Dr. Agarwal's Eye Hospital Limited announce Merger
SAMHI signs agreement to Lease for ~260-room Mid-Scale Hotel in Hyderabad's Financial District
Rail Vikas Nigam Ltd signs JV agreement with Texmaco Rail & Engineering Ltd
Stock Report
Ester Industries Promoters hikes stake by 4.91% to 64.04%
Posted On : 2020-09-07 13:23:08( TIMEZONE : IST )
The promoters of Ester Industries Ltd., one of India's leading producers of Polyester Films, Specialty Polymers and Engineering Plastics have increased their holding in the Company to 64.04%.
M/s Fenton Investments Private Limited, M/s. Wilemina Finance Corp and M/s. Movi Limited, all promoter/promoter Group entities acquired 4,90,000 (0.59%) 14,40,000 (1.73%) and 21,60,000 (2.59%) shares respectively on 11th August, 2020 and 1st September, 2020 via an off-market transaction. Post this transaction, the Promoter stake in the Company has increased by 4.91% to 64.04% from 59.13%.
The promoters increasing their stake in the Company is a reflection their confidence in the potential and prospects of the business. The Company is well positioned to embark on its next growth phase on the back of improving business fundamentals of the Film and Specialty Polymer businesses.
Expanding consumption is translating to much improved business metrics for Polyester films. Ester Industries is also focused on "de-commoditizing" its film business by nearly doubling the share of specialty, value added products to 30% over the next two years, from 16% at present. Further, the Company also proposes to scale up its BOPET capacities with the setting up of a new facility through a Wholly Owned Subsidiary in the State of Telangana. The first phase of the project, with a capital outlay of INR 500 crore is scheduled to be completed by the third quarter of calendar year 2022.
In addition, the Company's margin accretive, R&D driven & patent protected Specialty Polymer business is also shaping up well and is on track to deliver consistent growth over the medium to long term.
Shares of ESTER INDUSTRIES LTD. was last trading in BSE at Rs.73.85 as compared to the previous close of Rs. 70.35. The total number of shares traded during the day was 57162 in over 491 trades.
The stock hit an intraday high of Rs. 73.85 and intraday low of 68.2. The net turnover during the day was Rs. 4135979.
