12-08-2022 12:57 PM | Source: Accord Fintech
Gujarat Fluorochemicals inches up on receiving Rs 623 crore from Inox Wind against advances
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Gujarat Fluorochemicals is currently trading at Rs. 3257.35, up by 1.70 points or 0.05% from its previous closing of Rs. 3255.65 on the BSE.

The scrip opened at Rs. 3322.70 and has touched a high and low of Rs. 3323.25 and Rs. 3241.00 respectively. So far 3467 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4172.95 on 06-Oct-2022 and a 52 week low of Rs. 2007.30 on 20-Dec-2021.

Last one week high and low of the scrip stood at Rs. 3489.70 and Rs. 3215.00 respectively. The current market cap of the company is Rs. 35602.39 crore.

The promoters holding in the company stood at 66.08%, while Institutions and Non-Institutions held 8.89% and 25.03% respectively. 

Gujarat Fluorochemicals (GFL) has received Rs 623 crore from Inox Wind (IWL) against advances that the company had given to IWL for setting up the wind power capacity. The advances have been paid adjusting for the wind power capacity that Inox Wind will be commissioning for GFL. This money will be used to substantially reduce the debt at GFL as has been the stated vision of the Inox GFL Group to reduce the debt of all its operating entities.

Gujarat Fluorochemicals is engaged in manufacturing and trading of refrigerant gases, caustic soda, chloromethane, polytetrafluoroethylene (PTFE), fluoropolymers, fluoromonomers, specialty fluorointermediates, specialty chemicals and allied activities.