PINC maintains buy on India Glycols

India Glycols CMP: Rs 52

It is one of the leading manufacturers of glycols and ethylene oxide derivatives, which cater primarily to industries like textiles, agrochem, oil and gas, detergents and paints.

In December 2007, it acquired Shakumbari Sugar and Allied Industries for Rs 47 crore, which gave it flexibility in making ethanol through molasses or sugarcane depending on their price cycles.