Anupam Rasayan share price rises 4% on orders worth Rs 540 crore

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The tenure of the contract is for five years where life sciences related specialty chemicals will be provided to them by the company.

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Anupam Rasayan share price rose 4 percent intraday on May 19 after the company bagged Rs 540 crore order from two leading multinational companies.

” …. has received and signed contracts amounting to Rs 540 crores from two renowned multinational companies dealing in the fields of life sciences chemicals,” the company said in the release.

The tenure of the contract is for five years where life sciences related specialty chemicals will be provided to them by the company, it added.

The two new contracts are from two different multinational companies: an existing customer and the other is a recently acquired customer.

For both the customers, Anupam Rasayan was a part of their product development process from the start and when the multinational firm commercialised the specific products, the company received the order contract.

“These new orders will bolster our growth prospects and allow us to diversify our product offering. Additionally, we will produce the materials needed for these two contracts in our current multipurpose focilties, which will aid in the romp-up of newly constructed capacity,” said Anand Desai, Managing Director of Anupam Rasayan.

At 09:56 hrs Anupam Rasayan India was quoting at Rs 774.95, up Rs 7.20, or 0.94 percent on the BSE.