Aether Industries’ Shares Reach One-Year High Despite Weak Market Sentiment
Specialty chemicals manufacturing giant Aether Industries has displayed strong resilience in weak market sentiment, with its shares showing an impressive 7% jump in early trading to reach a one-year high of INR 1,055.95 per share. Despite a slight drop due to profit booking, the company’s shares continue to remain strong at INR 1,017 per share, showing a robust growth of 3.56% on the BSE Sensex. The surge in Aether’s shares is being attributed to the licensing agreement between the company and Saudi Aramco Tech, which has boosted investor confidence.
What is the Agreement About?
Aramco and Aether have collaborated over the past few years to develop the Converge Polyols Technology and product series. The two companies have now signed a commercial agreement to produce this technology. Converge Polyols are typically used in making polyurethanes, coatings, elastomers, and foams.
A Win-Win Deal
Aman Desai, Director and Promoter of Aether Industries, expressed his happiness over the deal, stating that after working together to develop the Converge platform, Aramco has chosen Aether to commercialize it. The company has signed a letter of intent with three leading global oilfield services companies in the USA in this direction on June 7, 2022.
43% Increase in Aether’s Shares in One Year
Last year, on June 20, 2021, Aether’s shares were trading at INR 736 per share, marking its lower level for the year. However, over the past year, the company’s shares have increased by more than 43%, reaching its one-year high today. The shares have shown an impressive surge of 20% this year alone.
In conclusion, Aether Industries has shown strong resilience in weak market sentiment, fueled by its licensing agreement with Saudi Aramco Tech. The company’s shares have reached a one-year high and continue to remain strong, showing robust growth on the BSE Sensex.
Follow DelhiBreakings on Google News
Superfast News Coverage by DelhiBreakings.com team.
For Superfast national news and Delhi Breaking Stories visit us daily at https://delhibreakings.com
