Pidilite to Launch 2 New JV units with Italian Firms

Pidilite Industries has launched its state-of-the-art manufacturing facilities under its two joint ventures, Pidilite Litokol (PLPL) and Tenax Pidilite (TPPL), in Amod, Gujarat. Litokol SPA Italy and Tenax SPA Italy have transferred technology to Pidilite as part of the Joint Venture. This event signifies a milestone development in technology transfer in India’s stone and ceramic solutions industry. 

Tenax offers some of the best product solutions for the installation and upkeep of marble and granite stones. These products provide a seamless finish and long-lasting lustre and shine to marble and Granite. Litokol’s Starlike range of quartz-based technology epoxy grouts are stain-proof, non-absorbent and highly suitable for both interior and exterior floor and wall applications, even in severe operating conditions.  

Pidilite Industries Ltd is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY products and polymer emulsions in India. Most of the products have been developed through strong in-house R&D. The company operates under the brand name Fevicol has become synonymous with adhesives to millions in India and is ranked amongst the most trusted brands in the country. Some of the other major brands of the company are M-Seal, Fevikwik, Fevistik, Roff, Dr Fixit, Fevicryl, Motomax, Hobby Ideas, and Araldite. 

On Wednesday, Pidilite Industries stock opened at Rs 2695.05 and touched a high and low of Rs 2706 and Rs 2663.10 respectively. 

The BSE group ‘A’ stock of face value of Rs 1 has touched a 52-week high and low of Rs 2916.85 and Rs 2075, respectively. 

Last one week high and low of the scrip stood at Rs 2724.55 and Rs. 2645.05 respectively. The current market cap of the company is Rs 1,35,880.69 crore. 

The promoters holding in the company stood at 69.94%, while Institutions and Non-Institutions held 19.07% and 10.99% respectively.