Monday , 29 November 2021
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Meghmani Organics moves up on the BSE

Meghmani Organics moves up on the BSE

Meghmani Organics is currently trading at Rs. 91.70, up by 0.45 points or 0.49% from its previous closing of Rs. 91.25 on the BSE.

The scrip opened at Rs. 91.90 and has touched a high and low of Rs. 92.95 and Rs. 91.00 respectively. So far 65259 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 1 has touched a 52 week high of Rs. 149.90 on 03-Sep-2021 and a 52 week low of Rs. 85.50 on 18-Aug-2021.

Last one week high and low of the scrip stood at Rs. 96.40 and Rs. 90.45 respectively. The current market cap of the company is Rs. 2347.32 crore.

The promoters holding in the company stood at 51.51%, while Institutions and Non-Institutions held 1.34% and 47.14% respectively.

Meghmani Organics is planning to enter into new and lucrative variant of White Pigment Titanium Dioxide (TiO2). The Company will set up 33,000 metric tons production facility at a total capex of Rs 400 crore at Dahej, the chemical hub of Gujarat.

Titanium Dioxide (TiO2) has application as a bright white pigment in various industries including Paint, Coating, Plastic, Ink, Dyes, Paper and Cosmetics etc. The aforesaid project is expected to be commissioned by Q1FY24 adding Rs 700 crore to company’s topline on a full financial year basis. India’s annual demand for Titanium Dioxide (TiO2) is pegged at 2,50,000 MTPA growing at 4.2% CAGR. India imports 80% of the Titanium Dioxide (TiO2) demand. India’s Titanium Dioxide (TiO2) production capacity stands at 81,000 MTPA.

Meghmani Organics is into the manufacture of Pigments and Agrochemicals in India and have a focus on delivering quality products backed by Research and Development efforts.