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Gujarat Fluorochemicals gains on incorporating new subsidiary in Germany

12 Sep 2013 Evaluate

Gujarat Fluorochemicals is currently trading at Rs 249.00, up by 0.35 points or 0.14% from its previous closing of Rs 248.65 on the BSE.

The scrip opened at Rs 250.00 and has touched a high and low of Rs 253.80 and Rs. 248.50 respectively. So far 1659 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 398.85 on 01-Oct-2012 and a 52 week low of Rs 190.00 on 22-Aug-2013.

Last one week high and low of the scrip stood at Rs 261.60 and Rs 240.00 respectively. The current market cap of the company is Rs 2729.77 crore.

The promoters holding in the company stood at 70.03% while Institutions and Non-Institutions held 4.30% and 25.67% respectively.

Gujarat Fluorochemicals has incorporated a new subsidiary with the name ‘Gujarat Fluorochemicals GmbH’ in Hamburg, Germany. The subsidiary is formed to carry on the business of trading as well as import and export, processing, distribution, marketing and storage of polymers and organic and inorganic compounds, especially Poly Tetra Moro Ethylene (PTFE grades). It would also provide after sales service as well as technical support to its German and EU customers.

Gujarat Fluorochemicals, part of the $2 billion INOX group of companies, is engaged in manufacturing of chloro-fluorocarbon refrigerant gases and hydrous hydrofluoric acid. The INOX group has interests in areas of industrial gases, refrigerants, chemicals, carbon credits, cryogenic engineering, renewable energy and entertainment.

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