Kothari Fermentation soars on entering into agreement with NextFerm Technologies

Kothari Fermentation & Biochem is currently trading at Rs. 65.70, up by 3.03 points or 4.83% from its previous closing of Rs. 62.67 on the BSE.

The scrip opened at Rs. 65.00 and has touched a high and low of Rs. 68.00 and Rs. 62.01 respectively. So far 71733 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs. 10 has touched a 52 week high of Rs. 69.90 on 27-Jul-2023 and a 52 week low of Rs. 38.26 on 03-Apr-2023.

Last one week high and low of the scrip stood at Rs. 68.00 and Rs. 58.16 respectively. The current market cap of the company is Rs. 100.50 crore.

The promoters holding in the company stood at 74.91%, while Non-Institutions held 25.08% stake in the company.

Kothari Fermentation & Biochem has entered into an agreement with NextFerm Technologies for manufacturing of Yeast based protein titled Protevin at company’s factory Situated at the village, Rajarampur, UPSIDC industrial area, Sikandrabad, District, Bulandshahar-UP India.

The product shall be manufactured at the existing production facility of the company at Sikandrabad by installing some additional plant and equipment to be supplied by nexfirm. The company shall deliver yeast to Nextfirm to produce yeast-based protein.

Kothari Fermentation & Biochem was incorporated on December 26, 1990 and has been engaged in the manufacture of yeast and its derivatives.