/Gujarat Alkalies hits 10% upper circuit after starting operations

Gujarat Alkalies hits 10% upper circuit after starting operations

Shares of Gujarat Alkalies and Chemicals hit 10 per cent upper circuit limit in Wednesday’s trade after the company resumed operations at its Dahej complex.

The company said it has started partial operation of Poly Aluminium Chloride (PAC) & Hydrogen Peroxide Plants at Dahej Complex and Chloromethanes & Poly Aluminium Chloride (PAC) Plants at Vadodara Complex based on requirements of various municipal corporations and other essential industries and after obtaining necessary permission from the concerned Authorities.

The Anhydrous Aluminium Chloride (AAC) Plant at Dahej Complex and Hydrogen Peroxide Plant at Vadodara Complex would start after a few days, it added. Based on the requirement, the company may start operation of other plants.

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.

At 12.50 pm, the stock was up 4.50 per cent to Rs 317.25.

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