Atul touches the roof as SAIF Partners plans to acquire 10% stake in the company

Atul is currently trading at its upper circuit limit of Rs. 796.55, up by 72.40 points or 10.00% from its previous closing of Rs. 724.15 on the BSE. The scrip opened at Rs. 750.00 and has touched a high and low of Rs. 796.55 and Rs. 749.70 respectively. So far 107810 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 796.55 on 21-May-2014 and a 52 week low of Rs. 280.20 on 26-Jun-2013. Last one week high and low of the scrip stood at Rs. 796.55 and Rs. 701.95 respectively. The current market cap of the company is Rs. 2362.71 crore. The promoters holding in the company stood at 50.62% while Institutions and Non-Institutions held 7.70% and 41.69% respectively. Private equity fund SAIF Partners is planning to acquire 10% stake in Atul, a Lalbhai Group company. The PE firm has started buying stake from the open market and will end up with 10% by June-end. SAIF will invest Rs 250-300 crore in the company. The company's market capitalisation is around Rs 2,147.95 crore. Atul is a member of Lalbhai Group, one of the oldest business houses of India, with interests mainly in textiles and chemicals. The Group is strongly committed to serve the society in the fields of education, health as well as culture. The company operates through six business divisions, namely, Agrochemicals, Aromatics, Bulk Chemicals & Intermediates, Colors, Pharmaceuticals & Intermediates and Polymers.