JBF Industries has rallied 5% to Rs 148 in opening trades after the company said it has entered into a partnership with the Coca Cola Company to set up production facility for Bio-Glycol (MEG) in Brazil.
“The facility will produce 500,000 metric tons of material annually by using locally sourced Ethanol from sugarcane, a renewable source of raw material and eco friendly route,” JBF Industries said in a filing.
JBF is working with the Coca Cola Company to work out details of the project as per the understanding, majority of the production will be taken by The Coca Cola Company, it added.
The stock opened at Rs 145 and has seen a combined around 15,000 shares changing hands on the counter on the NSE and BSE.
