Bharat Rasayan gains by more than 5 per cent on JV agreement

Bharat Rasayan has executed a joint venture agreement with Nissan Chemical Corporation (NCC) under the name-Nissan Bharat Private Limited.

As per the joint venture agreement, Nissan Bharat Rasayan Pvt Ltd, which is the joint venture company, has been incorporated in India. This partnership is expected to benefit both Bharat Rasayan Limited (BRL) and Nissan Chemical Corporation (NCC) as the companies intend to construct new manufacturing factory in India for various technical products. This joint venture enables NCC to expand its manufacturing base in India with the help of BRL. As per the agreement, NCC will hold 70 per cent and BRL will hold 30 per cent of the total share capital of the joint venture company.

NCC is Japanese research-based company and is also considered as one of the largest manufacturers of agrochemicals in Japan along with global operations. While, Bharat Rasayan Limited is a manufacturer of technical grade pesticides, intermediates and bulk formulations in India.

Reacting to the news, the stock of Bharat Rasayan closed at Rs 7,280.80, up by 5.21 per cent or Rs 360.75 per share. The 52-week high is Rs 7,980 and 52-week low is Rs 3,352.10 on BSE.