{"id":111127,"date":"2023-10-04T13:57:14","date_gmt":"2023-10-04T08:27:14","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=111127"},"modified":"2023-10-04T13:57:19","modified_gmt":"2023-10-04T08:27:19","slug":"chemical-stock-creates-jv-with-spanish-company-to-start-business-in-uae-check-the-details","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/chemical-stock-creates-jv-with-spanish-company-to-start-business-in-uae-check-the-details\/","title":{"rendered":"Chemical stock creates JV with spanish company to start business in UAE, Check the details\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-722974503\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>This stock in the chemical industry announced today that a wholly owned subsidiary of the company has incorporated a joint venture company in UAE on 2nd October 2023.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2474376988\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>At 12.10, shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/PIDILITIND\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Pidilite Industries Ltd<\/a><\/strong> were trading at Rs. 2402 per share, down by 0.95 percent from the previous closing price of Rs. 2425 per share.\u00a0<\/p><p>The company announced in the filing through bombay stock exchange (BSE) on 3rd October that \u201cPidilite MEA\u201d a wholly owned subsidiary of the company and Corporacion Empresarial Grupo Puma SL, Spain (\u2018Grupo Puma, Spain\u2019) have incorporated a joint venture company in UAE in the name of \u201cPidilitePuma MEA Chemicals\u201d on 2nd October 2023 to carry on the business manufacturing of construction chemicals.&nbsp;<\/p><p>Both the companies Pidilite MEA and Grupo Puma, Spain will hold 50 percent of the paid up capital in PidilitePuma.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-4196105796\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Looking at the financial reports, company revenue increased by 5.61 percent to Rs. 3275.11 crores in Q1FY24 from Rs. 3101.11 crores in Q1FY23, in the same time period net profit increased by 32.39 percent to Rs. 468.16 crores from Rs. 353.61 crores.&nbsp;<\/p><p>Talking about the financial ratios, the company reported return on equity (ROE) of 19.04 percent and return on capital employed (ROCE) of 25.18 percent in the last financial year.&nbsp;<\/p><p>Pidilite Industries Ltd is a market leader in the adhesives and chemical sector in India. Company manufactures adhesives, sealants, construction chemicals, hobby colours and polymer emulsions in India. Over two\u2013third of the company&#8217;s sales come from products and segments it has pioneered in India.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Vinit Israni&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>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.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-1253209446\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>This stock in the chemical industry announced today that a wholly owned subsidiary of the company has incorporated a joint venture company in UAE on 2nd October 2023.&nbsp; At 12.10, shares of Pidilite Industries Ltd were trading at Rs. 2402 per share, down by 0.95 percent from the previous closing price of Rs. 2425 per [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":28545,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[12778,11778,948,936,12779],"class_list":["post-111127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-pidilite-industries-latest-news","tag-pidilite-industries-share-price","tag-stock-market","tag-stock-market-news","tag-why-is-pidilite-industries-share-going-up"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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