Monday , 6 December 2021
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Meghmani Finechem rises on planning to set up chlorotoluene facility at Dahej complex

Meghmani Finechem rises on planning to set up chlorotoluene facility at Dahej complex

Meghmani Finechem is currently trading at Rs. 807.00, up by 9.70 points or 1.22% from its previous closing of Rs. 797.30 on the BSE.

Meghmani Finechem

The scrip opened at Rs. 816.00 and has touched a high and low of Rs. 829.45 and Rs. 793.00 respectively. So far 10103 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1040.00 on 06-Oct-2021 and a 52 week low of Rs. 386.35 on 18-Aug-2021.

Last one week high and low of the scrip stood at Rs. 829.45 and Rs. 752.05 respectively. The current market cap of the company is Rs. 3353.10 crore.

The promoters holding in the company stood at 72.62%, while Institutions and Non-Institutions held 0.78% and 26.59% respectively.

Meghmani Finechem (MFL) has unveiled its expansion plans to set up a chlorotoluene and its value chain facility at its existing Dahej complex in Gujarat at a cost of Rs 180 crore, which is likely to be commissioned by 2023-24 fiscal.

MFL also plans to set up a world-class research and development (R&D) centre, which will help the company identify new molecules in the chlorotoluene ecosystem and further strengthen the fully integrated facility.

This investment in the R&D centre will be the foundation for the next phase of growth of the speciality chemicals market. The facility will be set up at Changodar, Ahmedabad.

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