Kanoria Chemicals & Industries is currently trading at Rs. 73.00, up by 2.40 points or 3.40% from its previous closing of Rs. 70.60 on the BSE.
The scrip opened at Rs. 71.15 and has touched a high and low of Rs. 74.25 and Rs. 71.15 respectively. So far 20744 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 94.30 on 26-Oct-2016 and a 52 week low of Rs. 48.00 on 29-Feb-2016.
Last one week high and low of the scrip stood at Rs. 74.25 and Rs. 69.00 respectively. The current market cap of the company is Rs. 318.96 crore.
The promoters holding in the company stood at 74.43%, while institutions and non-institutions held 0.29% and 25.28% respectively.
In order to refinance a part of its debt, Kanoria Chemicals & Industries (KCI) is reportedly in advanced talks with Piramal Fund Management to raise close to Rs 300 crore. The investment will be a structured debt transaction through which KCI will refinance a large portion of loans taken by its subsidiaries.
KCI is a leading manufacturer of chemical intermediates in India. Apart from chemicals, it has diversified business interests including automotive and industrial electronics, renewable energy and textiles. The company has two chemicals manufacturing facilities, one at Ankleshwar in the state of Gujarat, which manufactures Alcohol based intermediates and the second at Visakhapatnam in the state of Andhra Pradesh, which manufactures Formaldehyde, Hexamine and resins.