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Excel Industries soars on getting nod to acquire manufacturing unit of NetMatrix Crop Care

Mumbai : Excel Industries is currently trading at Rs. 964.95, up by 22.60 points or 2.91% from its previous closing of Rs. 937.15 on the BSE. The scrip opened at Rs. 955.00 and has touched a high and low of Rs. 985.00 and Rs. 943.60 respectively. So far 3070 shares were traded on the counter. The BSE group ‘B’ stock of face value Rs. 5 has touched a 52 week high of Rs. 1906.95 on 17-Sep-2018 and a 52 week low of Rs. 924.20 on 19-Feb-2019.

Last one week high and low of the scrip stood at Rs. 985.00 and Rs. 933.65 respectively. The current market cap of the company is Rs. 1223.51 crore. The promoters holding in the company stood at 52.38%, while Institutions and Non-Institutions held 8.61% and 39.02% respectively.

Excel Industries has received approval for acquisition of a chemical manufacturing unit of NetMatrix Crop Care located at Andhra Pradesh Special Economic Zone, Visakhapatnam in the state of Andhra Pradesh as a going concern by way of slump sale. The cost of acquisition is Rs 95 crore. The Board of Directors of the Company at its meeting held on June 27, 2019 has approved the same. Excel Industries is engaged in the manufacturing of Agrochemical intermediates, phosphates, speciality chemicals, biocides and pharma products.

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