Navin Fluorine shares hit 52-week high after co bags multi-year contract

Shares of fluorochemical manufacturer Navin Fluorine on Tuesday hit their 52-week high, gaining nearly 20 per cent as the company received a multi-year contract from a global firm.

On the BSE, the stock rose 19.99 per cent to hit upper price band of Rs 1,455.10, its 52-week high.

Similarly, on the NSE, the stock settled at a 52-week high of Rs 1,454.30, up 19.99 per cent.

More than 12 lakh shares of the company were traded on the NSE, while 1.24 lakh shares were exchanged on the BSE.

Navin Fluorine on Tuesday said it has signed a multi-year contract worth USD 410 million (about Rs 2,900 crore) with a global company for supply of products in the fluorochemicals space.

"The company has entered into a USD 410 million multi-year contract with a global company for manufacture and supply of a high performance product in the fluorochemicals space," it said in a BSE filing.

Navin Fluorine International Ltd (Navin Fluorine) is in the business of manufacturing speciality fluorochemicals. It is a part of Padmanabh Mafatlal Group.