Sudarshan Chemical Industries’ stock price rose 20% in October 11 trading after the company announced the acquisition of Heubach’s global pigment business for Rs 1,180 crore through its subdivision.
On the NSE, Sudarshan Chemical shares rose 20% to reach a new 52-week high of Rs 1,217.50 per share.
Heubach Colorants India also surged, gaining almost 10%, to reach an intraday high of Rs 733.90 per share on the NSE. But soon after, there was profit-taking in the stock, and at about 3:15 PM, it was trading on the NSE for Rs 675.90 per share.
The Heubach Group has a 200-year history and, with its merger with Clariant in 2022, became the world’s second largest pigment player. Heubach is a major player in the Specialty Chemicals industry, which includes organic pigments, inorganic pigments, dyes, dispersions, and anti-corrosion pigments.
It became the world’s second largest pigment producer after Heubach Colorants India’s shares surged to a record high of Rs 733.25 per on the BSE, up over 10%. However, the stock saw profit booking later and closed 0.17% higher at Rs 670.15 on the BSE.
Stock Price Performance
The shares on the BSE shot up 19.99 percent to ₹1,216.55 after the announcement. It had a great day’s end, rising 19.11% to ₹1,207.50 apiece. Since hitting its 52-week low of ₹440, the stock has increased 174%. The company has increased by 144% over the last year, providing investors with multibagger gains. In the last month alone, it has gained 17.5%.
About the Company – Sudarshan Chemical Industries Limited
Sudarshan Chemical Industries Limited, through its subsidiaries, manufactures and sells organic, inorganic, effect pigments, and dispersions in India, the United States, Europe, China, Mexico, Japan, and elsewhere. It operates in two segments: pigments and others. The company sells pigments under the names Sudaperm, Sudatex, Sudafine, Sudacolor, Sudafast, Sumica, Sudadur, Sudasol, Sumicos, Sudatherm, Sudajet, Sudanyl, Sudacos, and Prestige, which are used in coatings, paints, plastics, inks, cosmetics, textiles, printing, and other applications. It also manufactures pollution control, size reduction, pneumatic conveying, and grinding equipment for industrial applications, as well as clean air, grinding, and power handling solutions. The company was established in 1951 and is based in Pune, India.
