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Gujarat Alkalies hits record high; stock zooms 51% in one month

The company announced partial commencement of caustic evaporation unit (CEU) by its joint venture company GACL-NALCO Alkalies & Chemicals.

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SI Reporter Mumbai
Shares of Gujarat Alkalies and Chemicals (GACL) hit a record high of Rs 959, up 7 per cent on the BSE in Friday’s intra-day trade.

The stock has surged 12 per cent in the past two trading days after the company announced partial commencement of caustic evaporation unit (CEU) by its joint venture (JV) company GACL-NALCO Alkalies & Chemicals (GNAL). On Thursday, the stock had surpassed its previous high of Rs 932 touched in January 2018.

GNAL is a JV between GACL and National Aluminium Company (NALCO) formed to set up 800 TPD caustic soda plant along with