Chemcon Speciality Chemicals zooms on commencing commercial production at P9 facility in Gujarat
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Chemcon Speciality Chemicals is currently trading at Rs. 456.85, up by 39.75 points or 9.53% from its previous closing of Rs. 417.10 on the BSE.
The scrip opened at Rs. 431.05 and has touched a high and low of Rs. 457.95 and Rs. 431.05 respectively. So far 5670 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 482.45 on 06-Oct-2021 and a 52 week low of Rs. 262.30 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 460.20 and Rs. 407.55 respectively. The current market cap of the company is Rs. 1527.87 crore.
The promoters holding in the company stood at 74.47%, while Institutions and Non-Institutions held 0.30% and 25.24% respectively.
Chemcon Speciality Chemicals has successfully commenced commercial production at P9 facility at Manjusar, Near Vadodara, Gujarat. The company has added a capacity of 2,400 MTPA of Bromo Benzene at the P9 facility. The company is further evaluating to add a pharma chemical, Guanine, at the same unit.
The company has commissioned nearly 2.1 MW solar power plant at Dabhoi, Vadodara with an investment of Rs 10 crore. This solar power plant will be used for captive consumption which will reduce dependency on non-renewable energy.
Chemcon Speciality Chemicals is a manufacturer of specialised chemicals, such as HMDS and CMIC which are predominantly used in the pharmaceuticals industry (the Pharmaceutical Chemicals), and inorganic bromides, namely Calcium Bromide, Zinc Bromide and Sodium Bromide, which are predominantly used as completion fluids in the oilfields industry.
