Pidilite Industries | Stock Updates

Pidilite Industries gains after starting a new partnership; details inside

The partnership is to expand the supply of advanced Leather Chemicals across India, Sri Lanka, Bangladesh, Nepal, and Vietnam.

About the partnership
Pidilite Industries Ltd, a leading manufacturer of adhesives, sealants, and construction chemicals, has partnered with Italy-based Syn-Bios, a renowned R&D and global marketing company in the leather tanning industry. The partnership will allow Pidilite to offer extensive leather chemical products in India, Bangladesh, Vietnam, Nepal, and Sri Lanka through its established channels. The company will also handle sales and distribution of Syn-Bios products.

The company aims to expand its impact in the South Asian leather market and set new benchmarks in the leather industry. The partnership is expected to capitalise on India’s significant growth potential in footwear, leather, and leather products exports. Syn-Bios is known for its high-performance pigments and innovative products tailored to the leather industry’s unique needs.

Share price movement
Pidilite Industries is currently trading at Rs 2,759.20, up by 26.50 points or 0.97% from its previous closing of Rs 2,732.70 on the BSE. The scrip opened at Rs 2,728.95 and has touched a high and low of Rs 2771 and Rs 2,718.40 respectively. So far 16,598 shares have been traded on the counter.

The BSE group ‘B’ stock of face value of Rs 1 has touched a 52-week high of Rs 2,792.35 and a 52-week low of Rs 2,250.85. The current market cap of the company is Rs 1,40,335.49 crore. The promoters holding in the company stood at 69.86%, while Institutions and Non-Institutions held 19.45% and 10.70%, respectively.

About the company
Pidilite Industries Ltd. - a company that is Indian at heart and international in its reach. Since its inception in 1959, Pidilite Industries Limited has been a pioneer in B2B speciality chemicals and consumer products in India. Pidilite’s flagship brand FEVICOL has revolutionized the adhesive industry by catering to a variety of applications. Its product range includes Adhesives and Sealants, Construction and Paint Chemicals, Automotive Chemicals, Art Materials, Industrial Adhesives, Industrial and Textile Resins and Organic Pigments and Preparations. Pidilite’s diverse and comprehensive solutions are powered by a strong and innovative in-house R&D team.

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