May 06, 2013, 10.47 AM IST | Source: Moneycontrol.com

Jindal Poly to buy ExxonMobil's Global BOPP; stock soars 9%

Jindal Poly Films shares rallied nearly nine percent in early trade Monday as the company has struck a deal to acquire Global BOPP films business of US-based ExxonMobil Chemical for USD 235 million.

Jindal Poly Films shares rallied nearly nine percent in early trade Monday as the company has struck a deal to acquire Global BOPP films business of US-based ExxonMobil Chemical for USD 235 million.

Flexible packaging films producer says the deal is likely to be closed by July, 2013.

"The transaction covers five BOPP production locations in the US and Europe. Approximately 1500 people work in those operations," according to a release sent to exchanges.

With this acquisition, the combined capacity of the company is approximately 4.45 lakh tonnes per annum for BOPP films.
 
At 09:44 hours IST, the stock gained 8.82 percent to Rs 167.15 amid hefty volumes on Bombay Stock Exchange. Market capitalisation of the company currently stands at Rs 702.83 crore.

Jindal PolyFilm stock price

On April 16, 2014, Jindal Poly Films closed at Rs 155.00, up Rs 10.50, or 7.27 percent. The 52-week high of the share was Rs 180.70 and the 52-week low was Rs 105.50.


The company's trailing 12-month (TTM) EPS was at Rs 12.93 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 11.99. The latest book value of the company is Rs 420.82 per share. At current value, the price-to-book value of the company is 0.37.

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