Shares of Gujarat Alkalies and Chemicals jumped 18 per cent in early trade after the company said it has resumed partial operations. After hitting a high of ₹262.20, the stock is currently hovering around ₹252, a gain of about 14 per cent over the previous close.

In a notice to the stock exchanges, Gujarat Alkalies said considering the requirements of various municipal corporations and other essential industries, and after obtaining necessary permissions, it has started partial operation of caustic soda, hydrochloric acid, phosphoric acid, sodium hypo and chlorine filling facilities at its Dahej complex and also caustic soda and KOH at its Vadodara complex.

Earlier, the company had completely shut down its manufacturing operations amid the nationwide lockdown.

The company also said it had witnessed record production last fiscal. “During the financial year 2019-20, in spite of challenging circumstance, the company could achieve the highest ever production of caustic soda lye, PAC-30, H2O2 and SBP at the Dahej complex and of caustic soda lye, caustic potash lye, chloromethanes, H2O2 and chlorine at the Vadodara complex,” it said in the notice.

The stock had hit a 52-week high of ₹595 and 52-week low of ₹180.10 on the NSE during the year.

comment COMMENT NOW