Indo Rama Synthetics zooms as its arm starts commercial production of ‘Bottle grade PET resins’

Indo Rama Synthetics (India) is currently trading at Rs. 47.99, up by 5.22 points or 12.20% from its previous closing of Rs. 42.77 on the BSE.

The scrip opened at Rs. 43.06 and has touched a high and low of Rs. 50.39 and Rs. 43.06 respectively. So far 63975 shares were traded on the counter.

The BSE group ‘B ‘ stock of face value Rs. 10 has touched a 52 week high of Rs. 73.50 on 03-Jun-2022 and a 52 week low of Rs. 36.60 on 28-Mar-2023.

Last one week high and low of the scrip stood at Rs. 50.39 and Rs. 40.50 respectively. The current market cap of the company is Rs. 1257.26 crore.

The promoters holding in the company stood at 74.84%, while Institutions and Non-Institutions held 3.27% and 21.89% respectively.

Indo Rama Synthetics’ (India) wholly owned subsidiary — Yarns has successfully started commercial production of ‘Bottle grade PET resins’ from its newly constructed Solid-State Polymerisation (SSP) Plant at Butibori, Nagpur, Maharashtra, on June 2, 2023.

Indo Rama Synthetics is India’s largest dedicated polyester manufacturer. Its largest product gamut comprises of Polyester Stable Fibre (PSF), Polyester Filament Yarn (PFY), Draw Texturised Yarn (DTY), Fully Drawn Yarn and Textile Grade Chips.