GHCL up 5% as board approves capex of Rs 350 cr for salt field in Kutch

GHCL shares advanced 4.9 per cent on Wednesday and logged an intraday high at Rs 603.45 per share on BSE. The counter saw buying after the company's board approved an additional capex of Rs 350 crore for the development of Zara Zumara Salt Field work in Kutch, Gujarat.

 

Around 1:02 PM, GHCL's share price was up 4.62 per cent at Rs 601.65 per share on BSE. In comparison, the BSE Sensex was up 0.47 per cent at 80,379.05. The market capitalisation of the company stood at Rs 5,761.09 crore. The 52-week high of the stock stood at Rs 603.45 per share and the 52-week low was at Rs 575.35 per share. 

 

"The board of directors in their just concluded meeting held on November 27, 2024, has inter alia approved the additional capex of Rs 350 crore, which will be used for development of Zara Zumara Salt Field Work in Kutch, Gujarat," the filing read.

 

GHCL is an Indian multinational company, primarily engaged in the production of chemicals, textiles, and consumer products. Established in 1988, the company has diversified operations with a significant presence in the manufacturing of soda ash, which is used in industries like glass, detergents, and chemicals. It is one of the largest soda ash producers in India, with a strong export market.

 

In addition to its chemical business, GHCL also has a textile division that manufactures home textile products, including bed linens, pillow covers, and curtains. The company’s consumer product line includes edible oils and other FMCG items. GHCL has a strong focus on sustainability and innovation, implementing eco-friendly processes and technologies across its operations.

 

With its diverse portfolio, GHCL continues to maintain a prominent position in the Indian industrial sector while expanding its footprint in global markets. The company is committed to growth, quality, and social responsibility, aiming to create long-term value for its stakeholders.

 

In the past one year, GHCL shares have gained 6.4 per cent against Sensex's rise of 20.8 per cent.