Gujarat Alkalies & Chemicals rose 1.13% to Rs 475.65 after the company said it completed commissioning of entire 20 megawatts solar plant in Charanka, Gujarat.
Gujarat Alkalies & Chemicals informed after trading hours yesterday, 17 September 2019, that remaining 12.5 megawatts (MW) solar power plant was commissioned on 16 September 2019. With this, the commissioning of entire 20 MW AC solar power plant installation in phased manner at Charanka is completed. Thus, total installed capacity of solar power plant now stands increased to 35 MW.In February 2018, the company's board approved setting up the 20 MW AC solar power plant for captive use on EPC basis at Charanka Solar Park in Gujarat at an estimated project cost of Rs 110 crore. The company said that project cost would be funded from internal accruals/surplus generated from internal operations and need based gap, if any, would be met from external commercial borrowings (ECBs) or rupee term loans.
Shares of Gujarat Alkalies & Chemicals jumped 13.47% in seven trading sessions to its current market price of Rs 475.65, from a recent closing low of Rs 419.15 on 6 September 2019.
On BSE, 3,188 shares were traded in Gujarat Alkalies & Chemicals counter, compared to a 2-week average of 5,822 shares. The stock hit an intraday high of Rs 482.50 and an intraday low of Rs 472.55.
It hit a 52-week high of Rs 646.70 on 27 September 2018 and a 52-week low of Rs 376.10 on 23 August 2019.
Gujarat Alkalies & Chemicals' consolidated net profit fell 13.3% to Rs 158.80 crore on a 0.6% decline in net sales to Rs 748.57 crore in Q1 June 2019 compared with Q1 June 2018.
Gujarat Alkalies and Chemicals is a chemical manufacturing company which offers caustic soda lye and caustic soda flakes.
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