Archit Organosys to incorporate wholly-owned subsidiary; Stock jumps 14%

26 Jul 2022 , 01:44 PM

Archit Organosys Limited has informed that the Board of Directors on July 25, 2022 has approved to incorporate a wholy-owned subsidiary in the name of ‘Archit Lifesciences Limited’.

As per the filing, the newly incorporated company shall be engaged primarily in the business of manufacturing chemicals namely ethyl acetate, butyl acetate, propyl acetate, acetaldehyde and acetic anhydride. The subsidiary is  yet to commence its business.

At around 1:43 PM, Archit Organosys was trading at Rs47.60 per share up by Rs5.9 or 14.15% from its previous closing of Rs41.70 per share on the BSE.

The scrip opened at Rs50 and has touched a high and low of Rs50 and Rs46.75 respectively so far today.