India Glycols jumps as company to expand facilities for New Value-Added chemical Products
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India Glycols is currently trading at Rs. 651.00, up by 14.45 points or 2.27% from its previous closing of Rs. 636.55 on the BSE.
The scrip opened at Rs. 669.15 and has touched a high and low of Rs. 688.00 and Rs. 649.50 respectively. So far 42959 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 977.45 on 13-Sep-2022 and a 52 week low of Rs. 514.00 on 25-Apr-2023.
Last one week high and low of the scrip stood at Rs. 688.00 and Rs. 610.80 respectively. The current market cap of the company is Rs. 2020.70 crore.
The promoters holding in the company stood at 61.01%, while Institutions and Non-Institutions held 3.13% and 35.86% respectively.
India Glycols is in the process of expanding facilities for New Value-Added chemical Products, in view of growing demand for speciality chemicals for various end markets. This is the areas of Bio-based Specialty and Performance Chemicals segment which includes carbon smart products. The project is being implemented in phases having total production capacity of approximately 10,000 MT/year and involves a cost of approximately Rs 82 crore and is expected to be completed by Q4FY24.
India Glycols manufactures Industrial Chemicals such as green technology based bulk, specialty and performance chemicals and natural gums and industrial gases; Ethyl Alcohol (Potable) and nutraceuticals.
