India's Aarti Industries gains on JV with Re Sustainability

Aarti Industries

29/01/2025 07:01

** Shares of Aarti Industries  ARTI.NS  rise 3.3% to 424.5
rupees
    ** The specialty chemicals maker said on Wednesday its unit
entered into joint venture agreement with Re Sustainability and
Recycling to develop plastic materials recycling facilities in
India
    ** The facility aims to recycle resources from waste streams
to produce advanced circular materials (ACM), used as raw
materials, fuels or recycled polymer feedstock
    ** JV aims to achieve minimum resource recovery capacity of
about 500 tons per day indicative by 2030 
    ** Co did not mention the financial terms of the JV
    ** 19 analysts covering the stock on avg have a "hold"
rating; median PT is 450 rupees - LSEG data
    ** Stock up ~5% so far this month


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))