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Alufluoride surges on plan to set up solar power project for captive consumption

06 Jul 2017 Evaluate

Alufluoride is currently trading at Rs. 60.85, up by 1.15 points or 1.93% from its previous closing of Rs. 59.70 on the BSE.

The scrip opened at Rs. 60.80 and has touched a high and low of Rs. 61.80 and Rs. 59.50 respectively. So far 4396 shares were traded on the counter.

The BSE group 'XD' stock of face value Rs. 10 has touched a 52 week high of Rs. 76.40 on 29-Mar-2017 and a 52 week low of Rs. 19.90 on 16-Aug-2016.

Last one week high and low of the scrip stood at Rs. 61.80 and Rs. 53.35 respectively. The current market cap of the company is Rs. 41.65 crore.

The promoters holding in the company stood at 52.94%, while institutions and non-institutions held 1.43% and 45.63% respectively.

Alufluoride has decided to set up 600kwp DC solar power project at factory premises for captive consumption at an estimated cost of Rs 2.7 crore. The installation is expected to be completed by September 30, 2017.

Alufluoride is engaged in producing Aluminium Fluoride and related products. The Company's Aluminium Fluoride is produced with a technology by reacting dry Alumina Hydrate with Hydro-fluosilicic acid, which is generated from the fluorine recovery unit of the adjoining fertilizer complex.

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