Goa Carbon rose 1.03% to Rs 221 after the company announced resumption of the operations at its Goa unit.
The maintenance work at the company's unit in Goa has completed and the Kiln has been lit up from 6 January 2020. After preliminary heat up, feeding of raw material will commence and normal production is likely to resume from today, 7 January 2020, the company said in an exchange filing.The stock trades below its 100 days simple moving average and above its 50 days simple moving average placed at 239.08 and 214.35 respectively. These levels will act as resistance and support in near term.
Goa Carbon reported a net loss of Rs 13.77 crore in Q2 September 2019, higher than net loss of Rs 1.27 crore in Q2 September 2018. Net sales fell 10.5% to Rs 101.46 crore in Q2 September 2019 over Q2 September 2018.
Goa Carbon is engaged in the manufacture and sale of calcined petroleum coke. The company is a supplier to aluminum smelters, graphite electrode and titanium dioxide manufacturers, as well as other users in the metallurgical and chemical industries.
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