Thirumalai Chemicals surges 13 per cent on ex-date

Thirumalai Chemicals in Tuesday’s trading session surge almost 13 per cent as the stock turned ex-date on Tuesday, August 14, 2018.

On July 24, 2018, the company's shareholders had approved sub-division of each equity share having face value of Rs.10/- fully paid-up into 10 equity shares of face value Re.1 each fully paid.

The stock of Thirumalai Chemicals opened at Rs. 154.85 per share as against Rs. 151.1 (split adjusted price), later it went up to touch intraday high of Rs. 170.7 per share. At 14.18 hours, the stock of Thirumalai Chemicals was trading at a mark of Rs. 163.3 per share, up by 8 per cent from previous close.

Furthermore, the company's shareholding pattern as on June 2018 showed an upsurge in promoter holding from 41.45 per cent in March 2018 to 41.52 per cent.

Thirumalai Chemicals is one of the largest global producers of Phthalic anhydride (PAN) with capacity of 140,000 tons. It also produces Maleic anhydride (MAN) which has production capacity of 40,000 tons. The company is one of the few players in the world which produces food ingredients and fine chemicals.