Chemical Sector

Privi Specialty Chemicals may see up to 6.32% stake sale via a ₹700 Cr block deal at an 11% discount

Stocks in focus on year-end: PowerGrid wins BESS project, RITES bags $3.6 mn order, Privi sees ₹700 Cr block deal, IFCI exits NEDFi stake, Bharat Forge wins ₹1,662 Cr defence order.

Under the terms of this agreement, Pidilite will be the sole distributor of CollTech's wide product line in India.

This acquisition, valued at roughly $6.85 million, was completed on August 27, 2024. With this deal, UGL currently owns 99.99% of PT Excel.

Shares traded at an average price of ₹1,318 per share, representing an up to 11% decrease from Monday's closing price.

The company's revenue from operations climbed by 8.3% to ₹2,068.9 Crore, up from ₹1,910 Crore the previous fiscal year.

Tata Chemicals announced its results and reported a 67.6% YoY fall in net profit to ₹190 Crore for the first quarter ending June 30, 2024.

The company is well-known for its products, intellectual property, and experience with protein/peptide technology in the agricultural biological arena.

As part of this related party transaction, ICA Pidilite will pay an agreed-upon fee to ICA, however the financial details will be kept hidden.

Revenue from operations declined 21% to 34.75 billion rupees, marking the company's third consecutive quarterly decline.