Saturday , May 15 2021
Home / BUSINESS / Satia Industries moves up on entering into formal association with Zume

Satia Industries moves up on entering into formal association with Zume

Satia Industries is currently trading at Rs. 87.35, up by 2.90 points or 3.43% from its previous closing of Rs. 84.45 on the BSE.

The scrip opened at Rs. 86.80 and has touched a high and low of Rs. 89.00 and Rs. 84.00 respectively. So far 18238 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 142.90 on 09-Sep-2020 and a 52 week low of Rs. 65.00 on 26-May-2020.

Last one week high and low of the scrip stood at Rs. 95.00 and Rs. 82.50 respectively. The current market cap of the company is Rs. 880.00 crore.

The promoters holding in the company stood at 51.79%, while Non-Institutions held 48.21%.

Satia Industries (SIL) has entered in a formal association with Zume, a US-based global brand in sourcing of packaging products used for meal boxes, beverages and Face Masks, etc. Zume has a global presence for sourcing patented paper cutlery products with an agenda of creating sustainable packaging products and solutions using advanced, molded fiber, using 100% compostable raw materials such as bagasse, wheat straw, hardwood, softwood and bamboo pulp.

Zume’s proprietary design, prototyping & manufacturing technologies enable replacement of singleuse plastic with 100 percent compostable plant fiber-based products while enhancing consumer experience and providing a viable alternative to plastic and Styrofoam packaging across the globe.

Zume has agreed to share its patented rights with SIL for manufacturing packaging product as desired and demanded by the global market. The expected average realization will be between Rs 250 – Rs 300 per kg, which is higher by 40-50%compared to local market realizations. SIL expects approximately 2000 MT of orders annually in the first year from Zume.

Satia Industries is in the business segment of Yarn, Paper, and Agriculture.

 

Tag : satia industries share price, satia industries ltd share, satia industries products, satia industries share price bse, satia industries news, satia industries limited share price, satia industries ltd turnover, satia industries ltd products, satia industries ltd, satia industries annual report, satia industries ltd address, satia industries bse, satia industries bilt, satia industries ltd balance sheet, satia industries share bse,

Please share this news