Shares of Aarti Industries Ltd (AIL), a speciality chemicals company, today zoomed almost 7 per cent after it entered into a Rs 4,000 crore multi-year contract with a global agriculture company for supply of high value agro-chemical intermediary.
The stock moved up by 6.96 per cent to close at Rs 939.55 on BSE. During the day, it jumped 16.68 per cent to Rs 1,024.95 -- its 52-week high.
At NSE, shares of the company advanced by 6.98 per cent to end at Rs 937.65.
As per the contract, the company will supply high value agro-chemical intermediary for use in herbicides over a period of 10 years.
The supplies are expected to commence from the 2019-20 fiscal and would generate expected revenues of approximately Rs 4,000 crore over the contract terms, it said in a BSE filing.
Aarti Industries is India's leading producer of Benzene- based basic and intermediate chemicals.
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