Navin Fluorine shares rally for 2nd day; soar 12 pc to hit 52-wk high

Extending gains for the second consecutive session, shares of fluorochemical manufacturer Navin Fluorine on Wednesday rallied 12 per cent on the back of a multi-year contract from a global firm. On the BSE, shares rose 11.95 per cent to hit a 52-week high of Rs 1,558.25 per unit.

Similarly, on the NSE, the stock surged 12.06 per cent to its 52-week peak of Rs 1,629.80. The stock had closed 19.99 per cent up at Rs 1,455.10 on the BSE.

The company on Tuesday said it has signed a multi-year contract worth USD 410 million (about Rs 2,900 crore) with a global company for supply of products in the fluorochemicals space. "The company has entered into a USD 410 million multi-year contract with a global company for manufacture and supply of a high performance product in the fluorochemicals space," it said in a BSE filing.

Navin Fluorine is in the business of manufacturing speciality fluorochemicals. It is a part of Padmanabh Mafatlal Group.