Gujarat Alkalies advances on getting nod for establishment of Hydrazine Hydrate Project at Dahej

27 May 2016

Gujarat Alkalies & Chemicals is currently trading at Rs. 214.40, up by 17.30 points or 8.78% from its previous closing of Rs. 197.10 on the BSE.

The scrip opened at Rs. 211.60 and has touched a high and low of Rs. 226.00 and Rs. 211.60 respectively. So far 235107 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 210.60 on 13-Jan-2016 and a 52 week low of Rs. 130.10 on 01-Mar-2016.

Last one week high and low of the scrip stood at Rs. 201.00 and Rs. 190.00 respectively. The current market cap of the company is Rs. 1578.89 crore.

The promoters holding in the company stood at 46.28% while Institutions and Non-Institutions held 5.14% and 48.58% respectively.

Gujarat Alkalies and Chemicals has received its board's approval for establishment of 10000 TPA (80%) Hydrazine Hydrate Project at Dahej with an estimated project cost of Rs 160 crore. The project is planned to go on stream in 24 months from the zero date. The technology for this process has been developed by the company jointly with Indian Institute of Chemical Technology, Hyderabad. The Hydrazine Hydrate Project when implemented would contribute to the annual sales revenue by approx. Rs 200 crore. The board of directors at its meeting held on May 26, 2016 has approved for the same.

Further, the company’s board has also approved the establishment of 33,870 TPA Food grade Phosphoric Acid Project at Dahej with an estimated cost of Rs 300 crore. The project is planned to go on stream in 30 months from the zero date. The discussions on Technology selection are on. The Phosphoric Acid Project when implemented would contribute to the annual Bales revenue by approximately Rs 200 crore.

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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