Oriental Carbon & Chemicals was up 0.03% to Rs 788.95 at 10:22 IST on BSE after the company said it has commissioned the commercial production of its project for expansion of insoluble sulphur production capacity at Mundra in Gujarat.
The announcement was made after market hours yesterday, 20 December 2016.Meanwhile, the S&P BSE Sensex was up 44.86 points or 0.17% at 26,352.84.
On the BSE, 768 shares were traded on the counter so far as against the average daily volumes of 2,216 shares in the past one quarter. The stock was volatile. The stock rose as much as 1.43% at the day's high of Rs 800 so far during the day. The stock lost as much as 0.46% at the day's low of Rs 785.05 so far during the day.
The stock had a hit record high of Rs 860 on 10 November 2016 and a 52-week low of Rs 385 on 26 Febraury 2016. The stock had outperformed the market over the past one month till 20 December 2016, advancing 4.78% compared with the Sensex's 0.6% rise. The scrip had also outperformed the market over the past one quarter rising 14.58% as against the Sensex's 7.77% fall.
The small-cap company has equity capital of Rs 10.30 crore. Face value per share is Rs 10.
Oriental Carbon & Chemicals announced that it has commissioned/started the commercial production, ahead of schedule, on 20 December 2016, of the first phase of 5,500 metric tonnes per annum capacity of its project for expansion of insoluble sulphur production capacity at special economic zone (SEZ) at Mundra, Gujarat.
Oriental Carbon & Chemicals' net profit rose 13.5% to Rs 14.69 crore on 1.3% decline in net sales to Rs 68.81 crore in Q2 September 2016 over Q2 September 2015.
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Oriental Carbon & Chemicals is one of the market leaders in the production of insoluble sulphur for the tyre and rubber industry around the world.
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