On the BSE, 1.28 lakh shares were traded in the counter so far compared with average daily volumes of 1.69 lakh shares in the past two weeks. The stock had hit a high of Rs 38.85 and a low of Rs 37.95 so far during the day. The stock hit a 52-week high of Rs 55.75 on 11 June 2018. The stock hit a 52-week low of Rs 31.20 on 28 September 2017.
It may be noted that the company acquired Notedome, UK in September 2016 through its overseas subsidiaries. Notedome, the UK-based manufacturer of high performance polyurethanes for the past three decades makes Nuthane Polyurethane Cast Elastomers of various specifications and supplies to over 45 countries across the globe. Notedome has been looking to expand its base in Asia and as part of achieving this, Manali Petrochemicals, the ultimate parent of Notedome, has commenced production of the said Notedome products at its facilities in Chennai and the products are being launched this month. The Notedome division of Manali Petrochemicals would cater to the needs of the Subcontinent and the South East Asian market.
Net profit of Manali Petrochemicals rose 645.79% to Rs 15.96 crore on 21.87% rise in net sales to Rs 177.17 crore in Q1 June 2018 over Q1 June 2017.
Manali Petrochemicals (MPL) is a chemicals company developing innovative products, since 1986, that find application in a variety of industries such as appliances, automotive, bedding, food & fragrances, furniture, footwear, paints and coatings, and pharmaceuticals.
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