Navin Fluorine surges 17% on multi-year contract with a global company

The Company has entered into a $ 410 million (approx. Rs 2,900 crore) multi-year contract with a global company for manufacture and supply of a high performance product in the fluorochemicals space.

Shares of Navin Fluorine International surged 17 per cent to Rs 1,425 on the BSE in an otherwise subdued market on Tuesday after signing of a multi-year contract with a global company for $ 410 million (approx. Rs 2,900 crore).

The stock of the fluorochemical maker hit a new high today. It has rallied 26 per cent in the past two weeks, as compared to a 2.5 per cent decline in the S&P BSE Sensex. In the past six months, the stock has more than doubled from level of Rs 686, against a 10 per cent rise in the benchmark