Chemfab Alkalis soars on commencing commercial operations at Tamil Nadu unit

25 Aug 2016

Chemfab Alkalis is currently trading at Rs 261.90, up by 8.70 points or 3.44% from its previous closing of Rs. 253.20 on the BSE.

The scrip opened at Rs 257.00 and has touched a high and low of Rs 280.00 and Rs 256.00 respectively. So far 56045 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 5 has touched a 52 week high of Rs. 282.50 on 23-Aug-2016 and a 52 week low of Rs. 65.75 on 25-Feb-2016.

Last one week high and low of the scrip stood at Rs. 282.50 and Rs. 206.10 respectively. The current market cap of the company is Rs. 242.27 crore.

The promoters holding in the company stood at 73.58%, while Institutions and Non-Institutions held 0.10% and 26.32% respectively.

Chemfab Alkalis has commenced its commercial operations by producing and dealing in the product ‘Industrial Grade Salt’ at its Mariyur Unit, Ramanathapuram District in state of Tamil Nadu on August 24, 2016.

The company has recently received an approval for placing of fresh Inter-Corporate deposit with Teamec Chlorates for a sum of Rs 10 crore. The board of directors at its meeting held on May 18, 2016 had approved for the same.

Chemfab Alkalis is the first Chloralkali Plant in India, to introduce and successfully implement Ion Exchange Membrane Cell technology for Chlor-alkali production in 1985.

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