Ester Industries surges on getting nod to provide corporate guarantee to Bank of India

Ester Industries is currently trading at Rs. 133.05, up by 1.05 points or 0.80% from its previous closing of Rs. 132.00 on the BSE.

The scrip opened at Rs. 133.15 and has touched a high and low of Rs. 135.45 and Rs. 132.00 respectively. So far 50553 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 5 has touched a 52 week high of Rs. 164.60 on 05-Aug-2021 and a 52 week low of Rs. 98.10 on 22-Feb-2021.

Last one week high and low of the scrip stood at Rs. 135.45 and Rs. 127.00 respectively. The current market cap of the company is Rs. 1117.48 crore.

The promoters holding in the company stood at 64.04%, while Institutions and Non-Institutions held 0.43% and 35.53% respectively.

Ester Industries has received an approval to provide corporate guarantee to Bank of India for an amount of Rs 12 crore for extending Credit facility (Bank Guarantee) to Ester Filmtech, a wholly owned Subsidiary of the company. The guarantee, once executed, will be valid throughout the tenure of the facility. The Board of Directors of the Company at their meeting held on January 6, 2022 has considered and approved the same.

Ester Industries main business activities are production and marketing of versatile ranges of polyester films and engineering plastics.