Punjab Alkalies & Chemicals is currently trading at Rs. 23.70, up by 2.60 points or 12.32 % from its previous closing of Rs. 21.10 on the BSE.
The scrip opened at Rs. 24.10 and has touched a high and low of Rs. 24.10 and Rs. 22.15 respectively. So far 8383 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 34.00 on 25-Sep-2012 and a 52 week low of Rs. 14.11 on 28-Jun-2012.
Last one week high and low of the scrip stood at Rs. 21.10 and Rs. 16.40 respectively. The current market cap of the company is Rs. 48.67 crore.
The promoters holding in the company stood at 44.26 % while Institutions and Non-Institutions held 0.12 % and 55.62 % respectively.
IFCI has been appointed as a global advisor for divesting state owned Punjab State Industrial Development Corporation (PSIDC) 44.26% stake in Punjab Alkalies & Chemicals (PACL). The decision was taken by Directorate of Public Enterprise and Divestment (DPED), Punjab. PSIDC has 44.26% stake in PACL comprising 90.90 lakh equity shares.
Punjab government has been waiting to get the right price before divesting its stake in PACL. In 2010, Punjab government has invited Expression of Interest (EOI) where almost 14 companies had evinced interest in buying the stake of PSIDC in PACL.
Punjab Alkalies & Chemicals is engaged in the manufacturing of caustic soda, liquid chlorine, hydrogen and hydrochloric acid with capacity of 300 Tonne Per Day. The product produced by the company is used in paper industry, vegetable oil, aluminium and textile sectors.
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