Alkyl Amines starts commercial production at new plant; shares rise

The share touched a 52-week high of Rs 3,061.00 and a 52-week low of Rs 2,119.05 on 04 November, 2022 and 31 March, 2023, respectively.

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Alkyl Amines Chemicals share price rose nearly 1 percent in early trade on October 19 after the company started commercial production at its newly set up plant. At 09:29 hrs Alkyl Amines Chemicals was quoting at Rs 2,267.55, up Rs 20.05, or 0.89 percent on the BSE. “The newly set up plant at our existing Kurkumbh site, Maharashtra for enhancing manufacturing capacity of Ethyl Amines has successfully commenced commercial production on October 18, 2023,” the company said in a statement.

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A meeting of the company’s board of directors will be held on November 7, 2023 to consider approval of unaudited financial results for the quarter and half year ended September 30, 2023.

The company had posted a 39 percent YoY fall in its June quarter net profit at Rs 49.77 crore.

The share touched a 52-week high of Rs 3,061.00 and a 52-week low of Rs 2,119.05 on 04 November, 2022 and 31 March, 2023, respectively.

Currently, the stock is trading 25.92 percent below its 52-week high and 7.01 percent above its 52-week low.