Why Anupam Rasayan Shares Hit 52-Week High Today

Anupam Rasayan’s share price surged over 4.5% to hit a new 52-week high of ₹1,124.55 on Tuesday.

What Happened: The company on Tuesday morning announced bagging a ₹380 crore order with one of the leading American multinational companies. The deal would see the specialty chemicals company supplying new-age specialty chemical advance intermediate for the next 5 years. “This product will be manufactured in our upcoming multipurpose manufacturing facilities,” the company added in a regulatory filing.

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The announcement helped the Anupam Rasayan share price continue its five-session gaining streak. The stock has been having a great time at bourses, as the Anupam Rasayan share price has gone up over 60% since the start of the year. In just the last month, shares of Anupam Rasayan have climbed up 35%

The company has bagged several orders just in the past month. On April 12, the company informed the exchanges that it had signed a Letter of Intent worth revenue of $182 Mn (₹1,500 crores) for the next 7 years with one of the leading Japanese multinational companies. In late March, the company announced signing a Letter of Intent with one of the leading Japanese Chemical companies. The contract value for the order is ₹984 crores for the next six years.

Price Action: Anupam Rasayan’s share price was up 4.54% to trade at ₹1,125 in the early hours of trading on Tuesday.

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Posted In: EquitiesMarketsAnupam Rasayan