Ultramarine Pigments hits upper circuit post Thirumalai chemicals buys shares

Thirumalai Chemicals bought 2.05 lakh shares or 0.7% equity at Rs 294.85 each on December 21, 2017.

Dec 22, 2017 05:12 IST India Infoline News Service

Ultramarine & Pigments Ltd is currently trading at Rs353.7, up by Rs58.95 or 20% from its previous closing of Rs294.75 on the BSE.

As per the disclosure by BSE bulk deal, Thirumalai Chemicals bought 2.05 lakh shares or 0.7% equity at Rs 294.85 each on December  21, 2017.

Thirumalai Chemicals Ltd is major promoter of the company and holds ~30 lakh shares, which forms 10.43% of the total shareholding of the company. This information is obtained from the disclosure of the month ended September on BSE. 

Ultramarine Pigments is the largest manufacturer of ultramarine blue and synthetic detergents. The company also manufactures ultramarine colours, organic and inorganic pigments, metal powders, chemicals, raw materials for the paint industry, varnishes, enamels, oils and plastics. The company exports its products the US and Europe.

As per the details of its business in their annual report of FY17 the company is into four segment namely, pigments (58%), surfactants (28%) and IT (12%).

The scrip opened at Rs318 and has touched a high and low of Rs353.7 and Rs311.8 respectively.

The stock touched a 52-week high of Rs302 on 21-Dec-2017 and a 52-week low of Rs151.4 on 24-Mar-2017. Last one week high and low of the scrip stood at Rs302 and Rs280 respectively.

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