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What lead to a rally in Gujarat Alkalies and Chemicals share? Check details
Gujarat Alkalies and Chemicals share price: Shares of Gujarat Alkalies and Chemicals gained 3.4 per cent in trade, logging an intraday high at ₹667.35 on the BSE. The up move in the stock came after the company dispatched its first consignment of Benzyl Chloride.
At 1:19 PM, Gujarat Alkalies and Chemicals shares were trading 3.12 per cent higher at ₹665.05 per share on the BSE. In comparison, the BSE Sensex was up 0.25 per cent at 79,603.34. The market capitalisation of the company stood at ₹4,883.92 crore. The 52-week high of the stock was at ₹900 per share and 52-week low of the stock was at ₹484 per share. In one year, Gujarat Alkalies and Chemicals shares have lost 19 per cent as compared to Sensex's rise of 7.8 per cent.
What lead to a rally in Gujarat Alkalies and Chemicals share?
The company on Monday, after market hours, informed investors that it has dispatched its first consignment of Benzyl Chloride from the aforesaid Plant at Dahej.
The flagging off of the first consignment was done virtually by Avantika Singh Aulakh, lAS, managing director of the company, in the presence of senior executives of Gujarat Alkalies and Chemicals and others, the filing added.
Meanwhile, three products to be manufactured at the said plant--Benzyl Chloride, Benzyl Alcohol and Benzaldehyde. The company is currently in process of achieving the production of the rest two products-- Benzyl Alcohol and Benzaldehyde, which are also planned to be made available to consumers in due course. ALSO READ | Tata Investment Corporation Q4 results drag stock 3% as PAT slips 38% YoY
About Gujarat Alkalies and Chemicals
Gujarat Alkalies and Chemicals is a state-owned chemical manufacturer based in India. The Gujarat-based company is primarily engaged in the production of a wide range of industrial chemicals. These include caustic soda, chlorine, hydrogen peroxide, phosphoric acid, and other specialty chemicals that are widely used in industries such as textiles, paper, detergents, water treatment, and agriculture.
The company also operates multiple manufacturing facilities in Gujarat and is known for adopting eco-friendly and sustainable practices in its operations.
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