Hikal Limited has announced the inauguration of its new Multipurpose Agrochemical plant at Taloja, located near Navi Mumbai.

In March 2008, the company had signed a long-term manufacturing agreement with the Bayer CropScience AG for the supply of active ingredients for crop protection products.

Bayer CropScience AG is a subsidiary of Bayer AG, Germany which is one of the world's leading innovative crop science companies in the areas of crop protection, non-agricultural pest control, seeds and plant biotechnology.

Mumbai-headquartered Hikal Limited manufactures and sells bulk agro technical and intermediates, and active pharma ingredients (APIs). It engages in research and development, as well as manufacturing and marketing fine chemicals for the pharmaceutical and agrochemical industries.

The company serves the pharmaceuticals, biotech, agrochemicals, and specialty chemicals industries primarily in India, Europe, the United States, Canada, and south east Asia.

In such a high volatile session, the stock of the company closed today at Rs 471 on BSE, up 2% compared with previous close of Rs 462.