Bharat Rasayan gains on raising Rs 20 crore via CP

Bharat Rasayan is currently trading at Rs. 4100.20, up by 14.75 points or 0.36% from its previous closing of Rs. 4085.45 on the BSE. The scrip opened at Rs. 4100.20 and has touched a high and low of Rs. 4100.20 and Rs. 4100.20 respectively. So far 13 shares were traded on the counter. The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 8395.00 on 10-Aug-2018 and a 52 week low of Rs. 3352.10 on 18-Feb-2019. Last one week high and low of the scrip stood at Rs. 4271.00 and Rs. 4000.00 respectively. The current market cap of the company is Rs. 1742.07 crore.

The promoters holding in the company stood at 74.83%, while Institutions and Non-Institutions held 0.32% and 24.85% respectively. Bharat Rasayan has raised funds through issue of Commercial Paper (CP) of Rs 20 crore value dated on May 07, 2019, having maturity on August 05, 2019. The rating agency, CARE rating has rated the instrument as ‘A1+’. The Company has appointed HDFC Bank as ‘Issuing & Paying Agent’ for this issuance. Bharat Rasayan, part of the Bharat Group of companies, is engaged in manufacturing technical grade pesticides, pesticides formulations, and intermediates.

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