This Chemical stock deals in the business of producing refrigeration gases, specialty organofluorines, and inorganic fluorides were up 2 percent after Goldman Sachs increased the stake to 5 percent through the open market.
Price Action
With a market capitalization of Rs. 18,652.83 Crores, the shares of Navin Fluorine International Limited were up by 2.06 percent in the day’s trade touching a day’s high of Rs. 3,790.40 per share. The stock reiterated from the day’s high and was trading at Rs. 3,761.40 which is 1.18 percent higher than the previous closing price of Rs. 3,717.65 per share. The stock has delivered a 7 percent return over the past year and outperformed the Nifty Index.
What Happened
The rise in stock price was due to a stake increase by Goldman Sachs. There was an increase in stake from 4.67 percent which constitutes to 23,19,391 equity shares to 5.043 percent constitutes 25,01,044 equity shares. The mode of acquisition was through the open market. Goldman Sachs bought shares from the acquirer and persons acting in concert with the acquirer. The acquisition took place on 13th January 2025.
Future Plans
Navin Fluorine is investing Rs. 450 crore to set up a new 40,000-tonne-per-year hydrofluoric acid (HF) capacity at Dahej and is expected to start the operations by the end of FY25 or early FY26. Additionally, an Rs. 84 crore investment to improve R32 refrigerant production capacity by 4,500 MT, targeted for commissioning in February 2025.
In the specialty chemical segment, Dahej’s Rs. 540 crore facility is to begin operations by November 2024, while a Rs. 30 crore Surat unit has been commissioned. Further, the company is implementing a Rs. 288 crore cGMP facility for its CDMO business, with phase one expected to be commissioned by Q3FY26.
About the Company
Navin Fluorine International specializes in fluorine chemistry, producing refrigeration gases, specialty organofluorines, and inorganic fluorides. The company was founded in 1967 and operates India’s largest integrated fluorochemicals complex.
Financials & Ratios
The Revenue from operations increased by 9.91 percent year on year from Rs. 471.79 Crores in Q2FY24 to Rs. 518.56 Crores in Q2FY25, accompanied by profits of Rs. 60.58 Crores to Rs. 58.82 Crores.
The company recognises its operations as a sole segment which is the Chemical business as of September 2024.
Written by Santhosh S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
