Published on 11/08/2017 10:42:47 AM | Source: Dion Global Solutions Ltd

Phillips Carbon Black rises 4% on investment plan

Shares of Phillips Carbon Black jumped nearly 4 per cent on the Bombay stock Exchange after Sanjiv Goenka group unveiled plan to invest Rs 300 crore to boost the capacity and expand business in South India. Following the announcement, shares of the company gained as much as 3.96 per cent to hit intra-day high of Rs 576.00 apiece on the Bombay Stock Exchange.

The stocks were currently trading at Rs 596.75 against previous close price of Rs 580.00. In a similar fashion, shares of the company were trading 2.50 per cent higher at Rs 597.50 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 31,274.73, down 256.60 points, or 0.81 per cent, at 9:45 hours.