Ester Industries to supply ecofriendly PBT product; stock gains 4 per cent

Ester Industries and a global chemical leader have entered into a long term agreement to supply innovative polybutylene terephthalate polymers.

The polybutylene terephthalate (PBT) is manufactured from virgin raw materials, whereas innovative PBT is manufactured from recycled PET waste. As a result, the innovative PBT could be regarded as far more environmentally-friendly while offering the same benefits as PBT.

The product is used across various applications which include textiles, fibre, automotive, industrial and consumer electronics.

Ester Industries’ main business activities are production and marketing of versatile ranges of polyester films and engineering plastics.

On Monday, the shares of Ester Industries opened at Rs. 36.30 against Friday’s close of Rs 35.45. At around 12:44 hours, the stock was trading at Rs 36.90, 4.09 per cent higher than the previous close. It reached an intra-day high of Rs. 37 and an intra-day low of Rs. 35.90 on the BSE. The 52-week high stood at Rs. 64.65 and 52-week low was Rs. 26.75 on the BSE.