Gulshan Polyols zooms on bagging Ethanol supply orders from OMCs, Nayara Energy
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Gulshan Polyols is currently trading at Rs. 264.75, up by 18.85 points or 7.67% from its previous closing of Rs. 245.90 on the BSE.
The scrip opened at Rs. 269.90 and has touched a high and low of Rs. 278.00 and Rs. 260.55 respectively. So far 40610 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 429.00 on 19-Jan-2022 and a 52 week low of Rs. 204.70 on 26-May-2022.
Last one week high and low of the scrip stood at Rs. 278.00 and Rs. 241.00 respectively. The current market cap of the company is Rs. 1389.30 crore.
The promoters holding in the company stood at 66.65%, while Institutions and Non-Institutions held 3.86% and 29.49% respectively.
Gulshan Polyols has secured an order to supply 22209.2 Kilolitres of Ethanol, from its manufacturing unit at existing 60KLPD Boregaon Plant with an order value of Rs 137.18 crore to the Oil Marketing Companies (OMCs) i.e. Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOCL) and Hindustan Petroleum Corporation (HPCL).
Further, the Company has also bagged an order to supply quantity, 9300 Kilolitres of Ethanol, from upcoming 500 KLPD Ethanol plant at Boregaon (supply tentatively will start from April 2023 onwards), to Nayara Energy with an order value of Rs 54.41 crore.
The company had participated in a tender floated by Oil Marketing Companies inviting various molasses and grain based distilleries for supplying Ethanol till October 31, 2023 at their various locations across the country. After the closure of the Second round of offerings, the company has bagged these orders.
Gulshan Polyols is engaged in manufacturing of ‘Sorbitol-70%’. Sorbitol, a starch derivative, sweet in taste, finds wide range application, the major uses in dentrifice, cosmetic, Pharma, Vitamin-C, food products etc.
