1. Aarti Industries shares surge 7 per cent on bagging Rs 4,000 crore contract

Aarti Industries shares surge 7 per cent on bagging Rs 4,000 crore contract

Shares of Aarti Industries Ltd (AIL), a speciality chemicals company, today zoomed almost 7 per cent after it entered into a Rs 4,000 crore multi-year contract with a global agriculture company for supply of high value agro-chemical intermediary.

By: | New Delhi | Updated: June 15, 2017 7:34 PM
Aarti Industries, Shares of Aarti Industries Ltd, NSE shares, agro-chemical intermediary, BSE,  global agriculture company he stock moved up by 6.96 per cent to close at Rs 939.55 on BSE. (Representative image Reuters)

Shares of Aarti Industries Ltd (AIL), a speciality chemicals company, today zoomed almost 7 per cent after it entered into a Rs 4,000 crore multi-year contract with a global agriculture company for supply of high value agro-chemical intermediary. The stock moved up by 6.96 per cent to close at Rs 939.55 on BSE. During the day, it jumped 16.68 per cent to Rs 1,024.95 — its 52-week high. At NSE, shares of the company advanced by 6.98 per cent to end at Rs 937.65. As per the contract, the company will supply high value agro-chemical intermediary for use in herbicides over a period of 10 years. The supplies are expected to commence from the 2019-20 fiscal and would generate expected revenues of approximately Rs 4,000 crore over the contract terms, it said in a BSE filing. Aarti Industries is India’s leading producer of Benzene- based basic and intermediate chemicals.

 

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