Chemical stock hits 10% upper circuit after it wins appeal against Senda International Capital in Singapore CourtChemical stock hits 10% upper circuit after it wins appeal against Senda International Capital in Singapore Court

Introduction:

Chemical stock secured a major legal victory as the Supreme Court of Singapore upheld a US$603.80 million buyout order with priority payment. The ruling also awarded 5.33% annual interest and legal cost reimbursement, strengthening its financial position and global legal standing.

Share Price movement of Kiri Industries:

On January 30, 2025, Kiri Industries Ltd opened at ₹598.00, rising 10% from its previous close of ₹581.80. The stock hit an intraday high of ₹639.95 and a low of ₹584.60. Currently the stock is trading at ₹635.00. Its market cap stood at ₹3,532.44 crore. 

Kiri Industries stock hits 10% upper circuit:

Kiri Industries Limited secured a major legal victory as the Supreme Court of Singapore ruled in its favor, rejecting Senda International Capital Limited’s appeal. The court upheld the original buyout order, valuing Kiri’s equity stake in DyStar at US$603.80 million, ensuring priority payment from the en bloc sale of DyStar.  

Additionally, the court awarded interest at 5.33% per annum on the buyout amount, running from September 3, 2023, until payment is made. This ruling significantly strengthens Kiri Industries’ financial position, securing compensation for the delayed payment and reinforcing its legal standing in the long-running dispute.  

Furthermore, Senda International has been directed to bear legal costs and reimburse expenses incurred during both appeals. This verdict marks a crucial milestone for Kiri Industries, ensuring financial justice and reaffirming its rightful claim, while also highlighting the company’s resilience in global legal disputes.

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Recent news About Kiri Industries :

On December 03, 2024, Kiri Industries reported strong Q2 FY25 results, with net sales rising 18.09% YoY to ₹272.23 crore. Net profit surged 327.22% to ₹80.30 crore, while EBITDA jumped 375.85% to ₹21.93 crore. EPS increased to ₹15.49 from ₹3.63 YoY.

Stock performance of Kiri Industries for Period of 1 week, 6 months and 1 year:

The chemical stock surged 5.29% in the past week, showing strong short-term momentum. Over six months, it gained 71.6%, reflecting significant growth. The one-year return stood at 44.0%, highlighting sustained investor confidence and strong performance in the chemical sector.

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Shareholding pattern of Kiri Industries:

All values in %	Dec-24	Sep-24	Jun-24
Promoters	31.72	26.72	26.72
FII	25.98	33.37	39.73
DII	1.22	1.11	0.34
Retail & others	41.08	38.8	33.21

About Kiri Industries:

Kiri Industries is a leading chemical manufacturer specializing in dyes, pigments, and intermediates. With a strong global presence, it focuses on innovation, sustainability, and expansion, making it a key player in the textile and specialty chemicals industry.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.