Gujarat Alkalies rises on signing term sheet with GAIL for setting up Bioethanol plant in Gujarat
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Gujarat Alkalies And Chemicals is currently trading at Rs. 872.95, up by 6.30 points or 0.73% from its previous closing of Rs. 866.65 on the BSE.
The scrip opened at Rs. 870.00 and has touched a high and low of Rs. 900.60 and Rs. 865.00 respectively. So far 18912 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1044.75 on 02-May-2022 and a 52 week low of Rs. 395.90 on 01-Jun-2021.
Last one week high and low of the scrip stood at Rs. 1015.55 and Rs. 859.30 respectively. The current market cap of the company is Rs. 6411.04 crore.
The promoters holding in the company stood at 46.28%, while Institutions and Non-Institutions held 3.49% and 50.22% respectively.
Gujarat Alkalies and Chemicals and GAIL (India) (GAIL) have joined hand to set-up a Bioethanol plant of 500 KLD capacity. The term sheet is for setting up a Bioethanol plant in Gujarat.
This plant will be using corn/broken rice as feedstock with eco-friendly technology with a likely production capacity of 500 KLD Bioethanol, which will be used for blending in petrol. As by-products from this plant, 135 KTPA Protein-rich Animal feed and 16.50 KTPA of Corn Oil while using corn as feedstock are also expected to be produced. The estimated project cost is to the tune of Rs 1,000 crore and it is expected to generate annual revenue of approximately Rs 1500 crore.
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.
