Clariant Chemicals gains on capacity expansion at its Roha facility

Clariant Chemicals (India) rose 1.46% to Rs 909.90 at 10:39 IST on BSE after the company said it has inaugurated an important new extension to its production facility in Roha, South-east of Mumbai.

The announcement was made during market hours today, 17 September 2014.

Meanwhile, the S&P BSE Sensex was up 138.66 points or 0.52% at 26,631.17.

On BSE, so far 3,105 shares were traded in the counter as against average daily volume of 8,732 shares in the past two weeks.

The stock was volatile. The stock rose as much as 2.68% at the day's high of Rs 920.90 so far during the day. The stock lost as much as 0.87% at the day's low of Rs 889 so far during the day. The stock had hit a record high of Rs 984 on 18 July 2014. The stock had hit a 52-week low of Rs 482 on 14 October 2013.

Clariant Chemicals (India) said that the expansion at its production facility at Roha doubles its capacity there for pigments and pigment preparations. The increased output will enable the company to increase its market coverage in India and the neighboring countries of Bangladesh and Sri Lanka, and to provide products better tailored to customer needs, Clariant Chemicals (India) said in a statement.

Hariolf Kottmann, CEO of Clariant said that the company is investing across Asia to develop production, technical support and commercial service capabilities that will enable its customers in this rapidly growing region to be successful in growing their business. The enhanced capability in Roha complements improvements the company has made and continue to make in its various operations in China, Indonesia, and elsewhere, Kottmann added.

Clariant Chemicals (India)'s net profit spurted 254.2% to Rs 85.44 crore on 17.1% decline in net sales to Rs 263.90 crore in Q2 June 2014 over Q2 June 2013.

Clariant Chemicals (India) is a specialty chemicals company.

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