Sudarshan Chemical share prices increased by 6.08% to Rs. 1,050+ per share last week. The company is among the third largest pigment producer company in the world. Thus, the market demand for its shares surges, especially after the acquisition announcement. Sources mention that the company might have already bid for acquisition to the administrator of Heubach GmbH’s insolvency case. Let us unfold some more details about Sudarshan Chemical share price and its acquisition case below.
Sudarshan Chemical Share Prices Hiked After Acquisition Announcement On 4 Sep, Falls Later
Sudarshan Chemical supplies high-end pigments of organic, inorganic, and other types. These are of different colours such as black, white or any other colour. It is used in cosmetics, paints, and dyes. Thus, it is a base raw material for many finished products and has a huge demand in the market. Sudarshan Chemical is globally the third-largest pigment supplier with DIC at first position and Heubach at second. Its value is increasing in the market as it is planning to acquire the second-largest pigment player, Heubach. The company filed for insolvency on 23 April 2024. The reason for this was the increasing debts.
Heubach GmbH is facing difficulties in paying back its debts from creditors. Its subsidiary, Heubach Colorants India Limited had a fall of 3.7% with an intraday low of Rs. 569.55. The subsidiary deals in speciality chemicals and might get an open offer to shift its ownership from Heubach GmbH. Apart from that, the reports of the first half of the share market on 4 September seem to be positive for Sudarshan Chemical, while negative for Heubach. However, Sudarshan Chemical share price fell a week later. It is Rs. 969 per share (at 1:59 p.m., 11 Sep) which is a fall of almost 29%. It has a current market cap of Rs. 6.71 K Cr with a market opening at Rs. 993.70 today.
Sudarshan Chemicals is also doing well in its finances. The company is strategically managing its every moment spent. Although, it had a decline in its net profit. The company manages to increase its revenue YoY. They are now more willing to put efforts into improving customer engagement. Sudarshan Chemicals are expected to perform even better in the coming years. With a successful acquisition, the company will grab the top second position in the world in pigment manufacturing. It will open new doors for the company to attracting them new customers and business deals. We hope you get enough details about Sudarsan Chemical share price changes and its acquisition case above.