Anupam Rasayan signs LOI worth Rs 145 Cr with European Multinational Company

Anupam Rasayan India Ltd (NSE, BSE: ANURAS), one of India's leading custom synthesis & speciality chemical player, has signed Letter of Intent (LOI) worth Rs 145 crore with existing long-term European multinational customer which is one of the top ten multinational company across the globe for supplying a new life science related active ingredient. The company will enter into a long-term contract for next three years to supply this life science related speciality chemical product.

Speaking about the order, Anand Desai, Managing Director of Anupam Rasayan, said, "We are elated to sign this letter of intent for this new Active Ingredient as it re-instils our profound relationship with our long-standing customer. We highly appreciate the faith and confidence exhibited by this customer for selecting us as a partner to launch this new molecule. It is a breakthrough and assurance of capability of proving in new lines of chemistry and making cost effective solution for our customers in life science segment. It affirms our dedication to the use of advanced technologies by our R&D and further strengthens our diversified product portfolio."

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. 797.8 as compared to the previous close of Rs. 758.15. The total number of shares traded during the day was 25539 in over 2084 trades.

The stock hit an intraday high of Rs. 811.15 and intraday low of 749.55. The net turnover during the day was Rs. 19935281.

Source : Equity Bulls

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