Tanfac Industries jumps 13% on ₹1,250 crore MoU with multinational firm

Shares of Tanfac Industries Ltd. surged as much as 13% on Wednesday, April 15, after it entered into a memorandum of understanding (MoU) with a large multinational company to supply a key fluorinated product.In an exchange filing, the company said that the agreement entails the supply of 5,000 metric tonnes per annum of the product over a five-year period, starting on January 1, 2027.

The total estimated value of the contract stands at ₹1,250 crore, excluding GST.
The supplies under the agreement will cater to both domestic and export markets, according to the filing.
Also read: Why Dr. Reddy’s Laboratories shares are down in a strong marketThe company clarified that the counterparty is a multinational firm, though it did not disclose the name. It also stated that the transaction does not involve any related party and that the promoter group has no interest in the MoU.

Tanfac Industries is a joint sector company with Tamil Nadu Industrial Development Corporation and Anupam Rasayan India Ltd.

The agreement provides revenue visibility over the medium term as the company continues to expand its presence in fluorinated chemicals.

Shares of Tanfac Industries surged over 13% following the announcement, hitting the intraday high of ₹2,528.95. The stock has since pared some of its gains and was trading 9.60% up at ₹2,450 as of 10.32 am. It has gained 44% over the last month and nearly 69% in the last 12 months.