Gulshan Polyols surged 11.42% to Rs 187.75 at 12:35 IST on BSE after the company said it has successfully commissioned ITC's cigarette paper making plant.
The announcement was made after market hours on Tuesday, 10 June 2014.
Meanwhile, the S&P BSE Sensex was down 59.77 points or 0.23% at 25,523.92.
On BSE, so far 47,000 shares were traded in the counter as against average daily volume of 22,000 shares in the past two weeks.
The stock hit a high of Rs 198.20 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 177.80 so far during the day. The stock hit a 52-week low of Rs 52.15 on 1 August 2013.
Gulshan Polyols (GPL) said that in competition with various MNC vendors, ITC had awarded GPL to set up an onsite PCC (percipated calcium carbonate) plant for their specialty paper division at Tribeni, West Bengal. GPL now announced that it has successfully commissioned the said cigarette paper making plant. This is the third onsite PCC plant set up by the company in India for supply of specialty PCC suitable for paper industry, GPL said in a statement.
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GPL also said that long awaited, commercial production of Indian Made Foreign Liquor (IMFL) has also been commenced at its bottling unit situated at Boregaon, Madhya Pradesh. The product is very well received in the market under the brand name of 'Tiger Gold', GPL said in a statement.
GPL has also received the environmental clearance from Ministry of Environment and Forest (MOEF), New Delhi, to set up a grain based distillery at Boregaon. Further clearance from Madhya Pradesh Pollution Control Board is expected soon, GPL said in a statement.
GPL's grain based plant for manufacturing Dextrose Monohydrate (DMH), Maltodextrin Powder (MDP) and Liquid Glucose has also started the commercial production at Muzaffarnagar, Uttar Pradesh, GPL said in a statement.
GPL has successfully commissioned the plant & equipment for updating the technology of Sorbitol manufacturing and making more environment friendly together with enhancement of capacity at Bharuch, Gujarat.
Gulshan Polyols' net profit surged 37.3% to Rs 9.90 crore on 2% growth in net sales to Rs 81.30 crore in Q4 March 2014 over Q4 March 2013.
Gulshan Polyols is one of the largest manufacturers of precipitated calcium carbonate and sorbitol in India.
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