NFIL’s shares uplift on tie-up with Honeywell for auto refrigerants
Published: Monday, 23 May 2016
After registering a robust growth of 90% in Q4 earnings for the fiscal year 2015-2016, NSE-listed Navin Fluorine International’s shares gained by 20% on Monday on the back of the company’s partnership with US-based Honeywell, for refrigerant production technology. India’s acid grade fluorspar imports, which accounted for 43% of Chinese exports in Q1 2016, are likely to increase, bringing some relief to the clogged market.
Indian fluorochemical producer, Navin Fluorine
International’s (NFIL) shares rose by nearly 13%
at INR 1971/share ($29.2*/share) at the close of trade.The rise
was attributed to the company’s robust Q4 earnings
and recent supply and technology license agreement with New
York-listed Honeywell International Inc., to...