Gujarat Fluorochemicals surges on entering into an agreement for disinvestment in its JVC

25 Jul 2016

Gujarat Fluorochemicals scrip is currently trading at Rs. 618.00, up by 7.75 points or 1.27% from its previous closing of Rs. 610.25 on the BSE.

The scrip opened at Rs. 620.20 and has touched a high and low of Rs. 620.40 and Rs. 610.50 respectively. So far 5957 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 780.05 on 21-Aug-2015 and a 52 week low of Rs. 401.05 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 640.00 and Rs. 508.90 respectively. The current market cap of the company is Rs. 6703.60 crore.

The promoters holding in the company stood at 68.33%, while Institutions and Non-Institutions held 7.96 % and 23.71 % respectively.

Gujarat Fluorochemicals has entered into an agreement for sale of its stake in its Joint Venture Company (JVC) - Xuancheng Hengyuan Chemical Technology Company, China. In view of the same, Xuancheng Hengyuan Chemical Technology Company, China will cease to be a JVC of Gujarat Fluorochemicals on receipt of approval from the relevant regulatory authorities and transfer of Gujarat Fluorochemicals’ shareholding in the JVC.

Gujarat Fluorochemicals, part of the $2 billion INOX group of companies, is engaged in manufacturing of chloro-fluorocarbon refrigerant gases and hydrous hydrofluoric acid. The INOX group has interests in areas of industrial gases, refrigerants, chemicals, carbon credits, cryogenic engineering, renewable energy and entertainment.

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