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Balaji Amines zooms on setting up new manufacturing unit in Maharashtra

Balaji Amines is currently trading at Rs. 370.50, up by 20.50 points or 5.86% from its previous closing of Rs. 350.00 on the BSE.

The scrip opened at Rs. 365.50 and has touched a high and low of Rs. 379.00 and Rs. 365.50 respectively. So far 13650 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 539.00 on 02-Apr-2019 and a 52 week low of Rs. 210.00 on 05-Aug-2019.

Last one week high and low of the scrip stood at Rs. 379.00 and Rs. 336.70 respectively. The current market cap of the company is Rs. 1134.04 crore.

The promoters holding in the company stood at 53.61%, while Institutions and Non-Institutions held 1.86% and 44.53% respectively.

Balaji Amines is setting up Organic and Specialty Chemicals Manufacturing Unit of capacity 874.2 TPD (tors per day) in an area of 36 ha located at Plot No. F-104 (Unit IV), Chincholi MIDC, District Solapur in the state of Maharashtra.

The project also involves installation of captive power plant of total capacity of 10 MWH. The estimated project cost is Rs 400 crore. The Company has received the Environmental clearance for the same from the Ministry of Environment, Forests & Climate Change, Government of India.

Balaji Amines is engaged in the manufacturing of methylamines, ethylamines, derivatives of specialty chemicals and natural products.

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