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Punjab Alkalies soars after Punjab Cabinet decides to disinvest PSIDC’s stake in company

17 Sep 2019 Evaluate

Punjab Alkalies & Chemicals is currently trading at Rs. 57.20, up by 3.45 points or 6.42% from its previous closing of Rs. 53.75 on the BSE.

The scrip opened at Rs. 56.65 and has touched a high and low of Rs. 63.00 and Rs. 56.65 respectively. So far 6347 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 85.10 on 28-May-2019 and a 52 week low of Rs. 40.00 on 07-Feb-2019.

Last one week high and low of the scrip stood at Rs. 63.00 and Rs. 45.90 respectively. The current market cap of the company is Rs. 155.25 crore.

The promoters holding in the company stood at 33.49%, while Institutions and Non-Institutions held 0.09% and 66.42% respectively.

The Punjab Cabinet has decided to disinvest Punjab State Industrial Development Corporation’s (PSIDC) stake in Punjab Alkalies and Chemicals (PACL), a move which is expected to generate around Rs 50 crore. The amount realised from the move would be utilised to pay debt of PSIDC.

Punjab Alkalies & Chemicals has been promoted by the Punjab State Industrial Development Corporation, a wholly owned Punjab Government Company.

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