Dai-Ichi Karkaria hit an upper circuit limit of 5% at Rs 306.35, extending gains for second consecutive session.
The stock has risen 10.21% in two sessions from its close of Rs 277.95 recorded on 24 December 2019.
The company in an exchange filing made on 25 December 2019 informed that it has entered into a memorandum of understanding (MOU) with Gera Developments for the sale of its land parcel of its undertaking situated at 105th Milestone, Mumbai-Pune Road, P.O. Kasarwadi, Pune. The deal is valued at Rs 158.25 crore.
The Kasarwadi unit was closed on 25 January 2019 and the company shifted its operations to Dahej, Gujarat.
The chemical maker had reported a consolidated net loss of Rs 7.84 crore Q2 September 2019 as against a net loss of Rs 4.40 crore in Q2 September 2018. Net sales rose 31.91% to Rs 27.20 crore Q2 September 2019 over Q2 September 2018.
Dai-ichi Karkaria is engaged in the development and manufacture of specialty chemicals for various applications.
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