Rossari Biotech

Among the most buzzing stocks, Spicejet surged 18 per cent. MOIL soared close to 9 per cent, while eClerx Services, Brigade Enterprises and Rossari Biotech were trading with 5-6 per cent gains

The management said raw material volatility has impacted profitability performance during the quarter

Rossari Biotech is expecting to close FY'22 with at least 50 per cent growth in both topline and bottomline on the back of rising demand and a substantial price hike that will help boost margins

Rossari Biotech Ltd, a speciality chemicals manufacturer, on Sunday announced the acquisition of Tristar Intermediates at an enterprise value of Rs 120 crore. The board of the company has approved the acquisition of Tristar Intermediates, a move which will help Rossari Biotech expand its product portfolio, primarily in the personal care segment, a joint statement said. As per the agreement and subject to customary closing conditions, Rossari will be acquiring 100 per cent equity share capital of Tristar Intermediates, it added. "76 per cent of the equity share capital will be acquired upon closure of the transaction, and the balance 24% over the next three years. The total enterprise value of the transaction is Rs 120 crore," it said. Rossari plans to fund the investment through cash on the balance sheet and doesn't intend to raise any debt for this acquisition. Established in 1998, Tristar Intermediates operates in the field of Preservatives, Aroma Chemicals, and Home & Personal

Gujarat State Petronet, APL Apollo Tubes, Arvind Fashions, Nucleus Software Exports and Quess Corp are among 29 companies slated to post their quarterly numbers today

Speciality-Chemicals manufacturer Rossari Biotech on Wednesday announced the acquisition of Unitop Chemicals, a supplier of surfactants, emulsifiers, and specialty chemicals, for Rs 421 crore.

Rossari Biotech has posted 37 per cent increase in its revenues from operations during the quarter ended March at Rs 218 crore as against Rs 160 crore in the year-ago period

Thus far in the month of April, the stock has soared 16 per cent in four trading days, after the company announced full commissioning of its Greenfield manufacturing facility at Dahej, Gujarat

The expansion is expected to support growth with revenues and profits estimated to rise by 20-25 per cent over the FY20-23 period

Rossari proposes to utilise the net proceeds to evaluate and invest in inorganic growth opportunities, within its core chemistries, with a view to diversify its product portfolio

In the past one month, the stock has outperformed the market by gaining 25 per cent, as compared to a 7.5 per cent rise in the S&P BSE Sensex.

Market players believe the new Sebi rule on net asset values (NAVs) will help capture the transactions on both asset and liability sides without any lag

The stock was trading at its highest level since its listing on July 23, 2020

Despite supportive markets, August saw no new offerings

The last company to list following an IPO was SBI Cards on March 16

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The stock rallied 64% to Rs 698 against issue price of Rs 425 on the BSE.