Anupam Rasayan Shares Gain Amid Weak Market After ₹922 Crore LOI with Korean MNC
Mumbai, March 11: Shares of Anupam Rasayan India Ltd. climbed nearly 3 per cent in early trading on the Bombay Stock Exchange (BSE) on Tuesday despite a weak broader market sentiment. The surge came after the company announced a major ₹922 crore Letter of Intent (LOI) with a leading Korean multinational company (MNC).
Stock Performance on BSE
Anupam Rasayan’s share price opened at ₹802.05, higher than its previous close of ₹787.70. The stock quickly gained momentum, reaching ₹810.55, marking a 3 per cent rise. However, it later pared its gains and was trading at ₹791.35 (up 0.46 per cent) around 9:45 AM.
Key Announcement: ₹922 Crore LOI with Korean MNC
On March 10, after market hours, Anupam Rasayan announced that it had signed a 10-year LOI worth $106 million (approximately ₹922 crore) with a renowned Korean multinational specializing in speciality chemicals.
The agreement focuses on high-performance niche chemicals, which the company will begin supplying from FY26.
Strategic Growth & Market Expansion
In an official statement, the company emphasized that this partnership strengthens its global presence and reinforces its expertise in advanced chemical solutions.
“Securing this long-term LOI with a global industry leader is a testament to our strong R&D capabilities and commitment to innovation. The speciality chemical covered under this agreement has niche applications in the aviation and electronics sectors,” said Gopal Agrawal, CEO of Anupam Rasayan.
Outlook for Anupam Rasayan
The latest LOI signals strong demand for Anupam Rasayan’s speciality chemicals in global markets. Analysts believe this deal could boost the company’s revenue visibility and long-term profitability, making it an attractive bet for investors.
Despite today’s early gains, the broader market remains weak, which may impact stock movements. However, the company’s growth-focused partnerships could drive sustained investor interest in the long run.
