Insecticides (India) shines on receiving patent for insecticide preparation process

Insecticides (India) is currently trading at Rs. 255.50, up by 8.05 points or 3.25% from its previous closing of Rs. 247.45 on the BSE. The scrip opened at Rs. 255.00 and has touched a high and low of Rs. 262.00 and Rs. 255.00 respectively. So far 2466 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 431.00 on 23-Apr-2013 and a 52 week low of Rs. 203.00 on 08-Nov-2013. Last one week high and low of the scrip stood at Rs. 262.00 and Rs. 245.00 respectively. The current market cap of the company is Rs. 324.05 crore. The promoters holding in the company stood at 74.69% while Institutions and Non-Institutions held 6.35% and 18.96% respectively. Insecticides (India) has been granted a patent by the Indian Patent Office for preparation process of Acetamiprid, an insecticide for sucking pests. The company had filed for process patents with India’s Controller General of Patents, Designs and Trademarks for eight chemical compounds, including Acetamiprid. Besides, the company had recently tied up with Japan-based Otsuka AgriTechno Company to set up a joint venture for research and development of new agrochemical molecules. Insecticides India’s leading agro-chemical and pesticides manufacturer. The company has formulation facilities in Chopanki in Rajasthan, Samba and Udhampur in Jammu & Kashmir and Dahej in Gujarat. It also has plants at Chopanki and Dahej to manufacture technical grade chemicals.