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Manali Petro gains on plan to launch Notedome products in India

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Petrochemicals rose 2.94% to Rs 38.50 at 10:52 IST on after the company said it will launch products of its UK arm, Notedome, in

The announcement was made after trading hours yesterday, 10 September 2018.

Meanwhile, the Sensex was down 40.34 points, or 0.11% to 37,881.83.

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.

Petrochemicals said it will launch the products of its wholly-owned subsidiary Notedome, UK, manufactured at the facilities of the company in during September 2018.

It may be noted that the company acquired Notedome, UK in September 2016 through its 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. has been looking to expand its base in and as part of achieving this, Petrochemicals, the ultimate parent of Notedome, has commenced production of the said products at its facilities in and the products are being launched this month. The division of would cater to the needs of the Subcontinent and the South East Asian market.

Net profit of 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.

(MPL) is a company developing innovative products, since 1986, that find application in a variety of industries such as appliances, automotive, bedding, food & fragrances, furniture, footwear, and coatings, and

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, September 11 2018. 10:54 IST