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Anupam Rasayan shares jump up to 7% in early trade; here is why – InfowayTechnologies

Shares of Anupam Rasayan India jumped as much as 6.93 per cent to Rs 945.05 apiece on the BSE on Wednesday. The stock rallied after the company signed a LOI with a prominent Japanese multinational worth Rs 743 crore.

As of 9:38 a.m., shares of Anupam Rasayan traded 2.97 per cent or Rs 26.25 higher, at Rs 910 apiece on the BSE. The market capitalisation of the company at around the same time stood at Rs 9,990.52 crore.

“Anupam Rasayan, one of India’s leading customs synthesis and specialty chemical players, has signed a Letter of Intent worth revenue of ~$90 million (Rs 743 crore),” the filing read.

It further said that Anupam Rasayan will supply two advanced intermediates using fluorination chemistry over the next seven years with one of the leading Japanese companies.

Anupam Rasayan India share price performance

In a year, the company’s shares have gained over 8 per cent against Nifty50’s rise of over 28 per cent.

(This story will be updated shortly.)

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