Manali Petrochemicals shares zoom 8% on D-Street—here's what is keeping investors glued to it

Manali Petro news: The buying is buoyant in the counter after the petrochemical company resumed the entire operations of Plant 2 in Manali and commenced partial operations of Plant 1 in Manali.

Image: Official website

Manali Petro share price BSE, Manali Petro news: Manali Petrochemicals shares zoomed over eight per cent on Thursday, December 21, to touch the day's high of Rs 81.5 on BSE, coming within Rs 4.4 of its 52-week high of Rs 85.90, touched on December 21, 2022. The buying is buoyant in the counter after the petrochemical company resumed the entire operations of Plant 2 in Manali and commenced partial operations of Plant 1 in Manali, the company informed the exchanges on Wednesday post market hours. The operations were curbed due to Cyclone Michaung.

"In continuation to our letters dated December 6th & 12th December 2023, we wish to inform you that we have resumed the entire operations of Plant 2 at Manali and commenced partial operations of Plant 1. The Company is in the process of restoring other manufacturing units in Plant 1," the regulatory filing read.

What does Manali Petrochemicals do?

Manali Petrochemicals is a petrochemical company established in 1986. Manali Petrochemicals manufacture and supply polyurethane raw materials and blended systems for a variety of industries, such as appliances, automotive, furniture, footwear, paints, coatings, pharmaceuticals, and food & fragrances.

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