Shares of PCBL have surged nearly 700% since April 2020, reaching a current price of ₹310 apiece. The company s strong performance in the carbon black business and entry into the specialty chemical sector are the major factors behind the sharp run-up in shares.
The company has executed a share purchase agreement with ACPL, Mr. Vimal V. Mangwani, Mr. Dharmesh Mangwani, Mr. Nitin Raojibhai Desai and other shareholders of ACPL.
PCBL’s focus on driving products catering to batteries for EV, coupled with this ACPL acquisition, would rerate its business model and margin profile, Nuvama said.