Anupam Rasayan India’s share moved to a 52-week high of Rs 1,123.45, adding 4% intraday on April 25 after the speciality chemicals company received a Rs 380 crore order from an American multinational company.
Anupam Rasayan has contracted a letter of intent worth revenue of $46 million (Rs 380 crore) with a foremost American multinational company to source new-age speciality chemical advance intermediary for the next five years, the company stated in a release.
It said the product would be manufactured at the company’s upcoming multipurpose manufacturing facilities.
Anand Desai, MD of Anupam Rasayan, said they are pleased to establish a new relationship with an American MNC customer by signing a long-term LoI to supply a positioned fluorinated molecule exclusively.
This molecule is a progressive intermediate used as a key constructing block for manufacturing high-end engineering fluids and an active pharmaceutical element. This product development further determines our prowess in emerging and manufacturing compound fluorinated products.
Earlier this month, the company signed an LoI worth $182 million (Rs 1,500 crore) with a foremost Japanese firm to produce and supply three high-value speciality chemicals for seven years.
At 10:32 am, the stock quoted Rs 1,124.50, up 4.5% on the National Stock Exchange.