Sayaji Industries rises on getting nod to enter into JV with Societe Developpement Produits

01 Apr 2019 Evaluate

Sayaji Industries is currently trading at Rs. 280.15, up by 0.15 points or 0.05% from its previous closing of Rs. 280.00 on the BSE.

The scrip opened at Rs. 280.15 and has touched a high and low of Rs. 280.15 and Rs. 280.15 respectively. So far 5 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 5 has touched a 52 week high of Rs. 479.00 on 04-Jan-2019 and a 52 week low of Rs. 223.50 on 08-Oct-2018.

Last one week high and low of the scrip stood at Rs. 287.00 and Rs. 271.00 respectively. The current market cap of the company is Rs. 176.96 crore.

The promoters holding in the company stood at 74.98%, while Institutions and Non-Institutions held 0.02% and 25.01% respectively.

Sayaji Industries has received approval to enter into a Joint Venture (JV) agreement with Societe Developpement Produits Afrique – SDPA, France the holding company of Alland and Robert for manufacturing of Gum Arabic/ Gum Acacia, Gum Ghatti and Gum blends. The Board of Directors of the Company at its meeting held on March 30, 2019 has approved the same.

The JV will be a 50:50 venture, wherein the Company and Societe Developpement Produits will hold 50% each in Sayaji Ingritech LLP which is presently a subsidiary of the company.

Sayaji Industries is one of the largest manufacturers of Starches, Liquid Glucose, Dextrose Monohydrate, Anhydrous Dextrose and Sorbitol in India.

Sayaji Industries Share Price

322.75 -0.10 (-0.03%)
23-Dec-2024 16:59 View Price Chart
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