GOCL Corporation hit an upper circuit limit of 20% to Rs 328.50 after the company said that its wholly-owned subsidiary, IDL Explosives, has bagged an order worth Rs 592.45 crore from Coal India.
The order is for supplying bulk explosives over a period of 2 years.The stock was currently frozen at its 52-week high level of Rs 328.50. It has risen 94.38% from its 52-week low of Rs 169 hit on 5 November 2020.
GOCL Corporation provides energetics, mining, and infrastructure development services. The company manufactures and markets explosives, detonators, explosive bonded metal clads, and special devices for defence and space applications. It also undertakes large scale mining services in coal, iron ore, limestone and bauxite mines.
The company's consolidated net profit jumped 30.3% to Rs 23.62 crore on 34.4% surge in net sales to Rs 141.78 crore in Q1 June 2021 over Q1 June 2020.
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