Penny stock under Rs 75: Petrochemical manufacturing company signs MoU with Chennai Petroleum Corporation Ltd

DSIJ Intelligence-1 / 30 Jul 2025/ Categories: Penny Stocks, Trending

Penny stock under Rs 75: Petrochemical manufacturing company signs MoU with Chennai Petroleum Corporation Ltd

The stock is up by 41.4 per cent from its 52-week low of Rs 49.15 per share.

Manali Petrochemicals Limited (MPL), a prominent petrochemical manufacturer and part of AM International, Singapore, has entered into a non-binding Memorandum of Understanding (MoU) with Chennai Petroleum Corporation Limited (CPCL). This strategic collaboration aims to promote mutual growth and innovation between the two companies.

The MoU was officially signed by Shri. P Kannan, Director (Operations) of CPCL and Shri. R Chandrasekar, Managing Director & CEO - MPL Group. The signing ceremony was attended by key officials from both organisations, including Shri. H Shankar, Managing Director, CPCL, Mr. Rohit Kumar Agrawala, Director (Finance), CPCL, Mr. G R Sridhar, Wholetime Director (Head of Plant Operations), MPL, Mr. N Shivaram, COO, MPL and Dr. Sundar Saimani, Sr. General Manager, MPL, along with other senior executives from CPCL.

About Manali Petrochemicals Limited

Manali Petrochemicals Limited (MPL), based in Chennai, India, is a prominent petrochemical manufacturer specialising in propylene glycol and polyols. As part of the Singapore-headquartered AM International Group, which boasts over USD 2 billion in assets, MPL extends its global reach through two wholly-owned subsidiaries, AMCHEM Speciality Chemicals Private Limited in Singapore and Manali Speciality Private Limited in India. The company also operates four step-down subsidiaries: Notedome Limited (UK), Notedome Europe GmbH (Germany), PennWhite Limited (UK) and PennWhite India Private Limited (India). MPL is dedicated to continuously improving its customer-centric approach, focusing on product customisation and upholding rigorous safety and environmental standards to benefit the wider community.

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On Wednesday, shares of Manali Petrochemicals Ltd plunged 3.95 per cent to Rs 69.50 per share from its previous closing of Rs 72.36 per share. The stock is up by 41.4 per cent from its 52-week low of Rs 49.15 per share. The company has a market cap of Rs 1,195.39 crore and has been maintaining a healthy dividend payout of 41 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.