Gujarat Alkalies gains on inking agreement with Bateman Advanced Technologies

22 Sep 2016

Gujarat Alkalies & Chemicals is currently trading at Rs 331.60, up by 1.30 points or 0.39% from its previous closing of Rs 330.30 on the BSE.

The scrip opened at Rs. 331.15 and has touched a high and low of Rs. 337.65 and Rs. 331.15 respectively. So far 24098 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 339.90 on 19-Sep-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. 339.90 and Rs. 320.50 respectively. The current market cap of the company is Rs. 2445.45 crore.

The promoters holding in the company stood at 46.28%, while Institutions and Non-Institutions held 7.28% and 46.44% respectively.

Gujarat Alkalies and Chemicals has inked agreement with Bateman Advanced Technologies, Israel for procuring technology & licence, basic engineering, proprietary equipments and technical services for the establishment of 21000 TPA (on 100% P205 basis) Food Grade Phosphoric Acid Plant at Dahej. The company is in the process of appointing consultant for detailed engineering services. The plant is expected to be operated by the second quarter of Financial Year 2019-20.

Earlier, company had received approval from Board of Directors at its 356th meeting held on May 26, 2016 for the establishment of Food Grade Phosphoric Acid Project at Dahej with an estimated cost of Rs 300 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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