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Gujarat Alkalies gains on the bourses

Gujarat Alkalies & Chemicals is currently trading at Rs. 545.45, up by 4.90 points or 0.91% from its previous closing of Rs. 540.55 on the BSE.

The scrip opened at Rs. 543.10 and has touched a high and low of Rs. 549.10 and Rs. 539.05 respectively. So far 3441 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 932.35 on 15-Jan-2018 and a 52 week low of Rs. 433.75 on 19-Jul-2018.

Last one week high and low of the scrip stood at Rs. 565.00 and Rs. 535.55 respectively. The current market cap of the company is Rs. 3994.97 crore.

The promoters holding in the company stood at 46.28%, while Institutions and Non-Institutions held 9.66% and 44.06% respectively.

Gujarat Alkalies and Chemicals has received an approval for the expansion of existing Caustic Soda Plant of Dahej Complex from 785 MTPD to 1200 MTPD and also installation of 65 MW of Coal based Power Plant at Dahej at an estimated aggregate cost of Rs 825 crore. The Board of Directors of the company in its meeting held on December 6, 2018, approved the same.

The Project is planned to go on stream in 36 months from zero date. The Projects when implemented, will contribute approximately Rs 480 crore in Sales of the company at the prevailing market prices. Further, the cost of the said project shall be funded from internal accruals / surplus generated from internal operations and need based gap, if any, shall be met from External Commercial Borrowings (ECB) or Rupee Term Loans.

Gujarat Alkalies and Chemicals is engaged in business of manufacturing basic chemicals such as sodium cyanide, sodium ferrocyanide, chloromethanes, hydrochloric acid, caustic potash, potassium carbonate, phosphoric acid (85%) and hydrogen peroxide.

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