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Shares of Aarti Industries Ltd (AIL), a speciality chemicals company, today zoomed almost 7 per cent after it entered into a Rs 4,000 crore multi-year contract with a global agriculture company for supply of high value agro-chemical intermediary.
The stock moved up by 6.96 per cent to close at Rs 939.55 on BSE. During the day, it jumped 16.68 per cent to Rs 1,024.95 —— its 52-week high.
At NSE, shares of the company advanced by 6.98 per cent to end at Rs 937.65.
As per the contract, the company will supply high value agro-chemical intermediary for use in herbicides over a period of 10 years.
The supplies are expected to commence from the 2019-20 fiscal and would generate expected revenues of approximately Rs 4,000 crore over the contract terms, it said in a BSE filing.
Aarti Industries is India’s leading producer of Benzene- based basic and intermediate chemicals.
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