Savita Oil Tech shares hit 52-week high on commissioning of new plant

Based on esters production this plant, the company plans to launch a new range of EV coolants as well as immersion cooling fluids

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Savita Oil Technologies  added more than 4 percent to hit a 52-week high of Rs 355 in the early trade on October 17 after the company commissioned a new manufacturing plant in Maharashtra.

The company on October 16 said it successfully commissioned a synthetic ester plant at its facility in Mahad.

The multipurpose plant, designed to manufacture synthetic esters for transformer fluid applications, will also have the capability to manufacture synthetic esters for high performance automotive and industrial lubricants.

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Synthetic Esters because of their high thermal stability and good dielectric properties are also the preferred choice for use as electric vehicle (EV) coolants, immersion cooling of batteries as well as data centre cooling fluids, the company said.

With the commissioning of the plant, Savita Oil Technologies is the first company in the world to manufacture and market mineral oil, natural ester as well as synthetic ester-based transformer fluids.

Based on esters from this plant, the company plans to launch a new range of EV coolants as well as immersion cooling fluids.