Agarwal Industrial Corporation Limited saw its shares rise by 4% following the announcement of a strategic supply agreement with Hindustan Petroleum Corporation Limited (HPCL). The agreement, valued at Rs 255 crore, involves the supply of Bulk Bitumen VG30 and VG40 from AICL’s Taloja unit. This deal is expected to bolster AICL’s position in the bitumen supply sector.
Under the terms of the deal, AICL will deliver 49,000 metric tons of VG30 bitumen and 9,000 metric tons of VG40 bitumen, ensuring the supply adheres to IS 73-2013 standards for high-quality products. With a total deliverable value of around Rs 255 crore, this agreement marks a significant milestone for AICL, positioning the company for enhanced growth and stability in the bitumen supply market.
Agarwal Industrial Corporation Limited (AICL) opened at 1,193.45 and reached a high of 1,234.35, with a low of 1,175.55. The stock is currently trading significantly below its 52-week high of 1,341.10 but remains above its 52-week low of 776.30.
As of 12:06 pm, Agarwal Industrial shares were trading 4.05% higher at Rs 1,231.95 on the NSE.
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