Meghmani Organics rises 5% as co sets up Epiehlorohydrin manufacturing project

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Meghmani Organics shares rose more than 5 percent intraday on September 11 after the company decided to foray into Epiehlorohydrin project.

Meghmani Finechem (MFL), a material subsidiary of Meghmani Organics has decided to foray into and would like to announce setting up of project of Epichlorohydrin, capacity 50,000 tonnes per annum which will be based on TechnipFMC’s EPICEROL technology.

The project will be setup with capex of around Rs 275 crore and is expected to generate revenue of approximately Rs 460 crore per annum at optimum operating rate.

Meghmani Finechem will be the first to manufacture Epichlorohydrin in India. Currently, this product is imported entirely for the domestic consumption.

At 1050 hrs, Meghmani Organics was quoting at Rs 53.60, up Rs 2.20, or 4.28 percent on the BSE.