Aarti Industries shares gained 4 percent in morning on Wednesday after the company signed multi-year deal a global chemical conglomerate.
The contract entails supply of a high value specialty chemical intermediate for a period of 10 years.
“….signed a $125 million (Rs 900 crore at current Exchange Rate) supply contract with a leading global chemical conglomerate,” the chemical supplier said in its filing.
The plant is expected to commission in Q4 FY 2021, with average annual revenue of $12.5 million, it added.
Company estimates a capital investment of approximately $15 milllon to setup a commercial scale manufacturing facility for the production of this speciality chemical intermediate. The upcoming facility will be located in the state of Gujarat.
At 09:20 hours IST, the stock was quoting at Rs 1,332.00, up Rs 5.05, or 0.38 percent on the BSE.