Anupam Rasayan hits 52-week high on securing order worth Rs 1,100 crore

Shares of Anupam Rasayan scaled a fresh 52-week high of Rs 666, up 6 per cent, on the BSE in intra-day trade on Wednesday after the company bagged an order worth Rs 1,100 crore from a multinational life sciences company. The shares of the speciality chemicals firm which got listed on the bourses on March 24, 2021, have risen 20 per cent over its issue price of Rs 555.

At 2.20 pm, the scrip was trading 2.78 per cent higher at Rs 646.10 on the BSE as against a rise of 1.70 per cent in the S&P BSE Sensex.

"The company has received and signed Letter of Intent (LoI) amounting to Rs 1,100 crore from one of the top 10 multinational life sciences company for supplying life sciences related speciality chemicals," Anupam Rasayan said in an exchange filing. READ HERE

The company will be providing multiple products to the multinational firm for the next five years, it added.

Anupam Rasayan has over 53 domestic and international customers, including 17 multinational companies.

Commenting on the order win, Anand Desai, Managing Director at the firm said, "Securing order from a leading multinational company in the light of prevailing global uncertainty is a testament to our research and development process, latest technology, infrastructure and quality of our existing products."