Navin Fluorine gains for 9th straight day on board's nod for capex plan

In the past two months, the stock has outperformed the market by surging 34 per cent against 7 per cent rise in the benchmark index.

Shares of Navin Fluorine International were quoting higher for the ninth-straight trading day, up 3 per cent at Rs 1,019, also its new high on the BSE on Tuesday.

The stock of the commodity chemicals manufacturer rallied 15 per cent after the company announced a capex plan of Rs 450 crore at Dahej through a wholly-owned subsidiary, which is to be incorporated. In comparison, the S&P BSE Sensex was up 3 per cent during the same period.

On December 12, Navin Fluorine said in a regulatory filing that it was planning a capex programme at Dahej (Gujarat) through