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    Navin Fluorine shares rally for 2nd day; soar 12% to hit 52-week high

    Synopsis

    The stock had closed 19.99 per cent up at Rs 1,455.10 on the BSE.

    Agencies
    The company on Tuesday said it has signed a multi-year contract worth $410 million (about Rs 2,900 crore) with a global company for supply of products in the fluorochemicals space.

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    Extending gains for the second consecutive session, shares of fluorochemical manufacturer Navin Fluorine on Wednesday rallied 12 per cent on the back of a multi-year contract from a global firm. On the BSE, shares rose 11.95 per cent to hit a 52-week high of Rs 1,558.25 per unit.

    Similarly, on the NSE, the stock surged 12.06 per cent to its 52-week peak of Rs 1,629.80.

    The stock had closed 19.99 per cent up at Rs 1,455.10 on the BSE.

    The company on Tuesday said it has signed a multi-year contract worth $410 million (about Rs 2,900 crore) with a global company for supply of products in the fluorochemicals space.

    "The company has entered into a $410 million multi-year contract with a global company for manufacture and supply of a high performance product in the fluorochemicals space," it said in a BSE filing.

    Navin Fluorine is in the business of manufacturing speciality fluorochemicals. It is a part of Padmanabh Mafatlal Group.
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