Tata Chemicals, GHCL spurt up to 7%; why are chemical stocks gaining today?

Chemical import price: Chemical stocks, including Tata Chemicals, and GHCL, were moving higher in trade on Tuesday, December 31, 2024. Buying interest sparked in chemical stocks today after the government, on Monday, imposed a minimum import price on Soda Ash.

 

In a notification, Centre said it shall impose a Minimum Import Price (MIP) of Rs 20,108 per tonne on Disodium Carbonate (Soda Ash) up to June 30, 2025.

 

"The existing free import policy, as it stands prior to the issuance of this notification, shall be in effect starting from July 1, 2025, unless expressly amended by subsequent notification," it added.

 

 

On the bourses, Tata Chemicals share price on NSE today rose 2.8 per cent intraday, GHCL share price added 6.6 per cent on the NSE, and PCBL share price 3 per cent.

 

By comparison, the Nifty50 index today was down 0.13 per cent at 23,615 level at 1:35 PM.

 

GHCL is one of India’s leading producers/manufacturers of Soda Ash (Anhydrous Sodium Carbonate). GHCL has an annual production capacity of 975,000 MTPA, as per its website. GHCL sells its Soda Ash under the ‘LION’ Brand name which is purchased by wholesalers, suppliers, and companies through distributors across India.

 

Notably, Soda ash is an important raw material in the production of soaps, detergents, glass, pulp and paper, chemicals, textiles, and a host of other industries.