Anupam Rasayan spurts after order win; hits record high

Anupam Rasayan India gained 2.11% to Rs 858.40 after the company received a supply order from Japanese multinational customer.

The scope of the order is to supply an existing life science related speciality chemical. The company earlier signed letter of intent for the product with same customer and now it has entered into a long-term contract for next four years. The contract is worth Rs 135 crore.

Speaking about the order, Anand Desai, MD of Anupam Rasayan said, "We are delighted to inform you that we have signed yet another long-term binding contract with one of the top global chemical company. This conversion of LOI into a long-term contract reinforces the capability of our company to be a preferred partner with some of the world's most marquee companies. We continue to work on expanding our chemistries and enhance the wallet share with our customers.

Shares of Anupam Rasayan extended their winning run to fourth consecutive trading session. The counter has gained 4% in four days. The stock also hit a record high of Rs 876.15 in intraday today.

Anupam Rasayan India is one of the leading companies engaged in the custom synthesis (CSM) and manufacturing of specialty chemicals in India.

The company reported 37.2% rise in consolidated net profit to Rs 36.05 crore on a 13.3% increase in revenue from operations to Rs 248.92 crore in Q2 FY22 over Q2 FY21.

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