Navin Fluorine hits new high on commencement of production at Dewas plant

The stock rallied 8% to Rs 1,104.75 on Wednesday, extending its Tuesday's 4% gain on the BSE.

Shares of Navin Fluorine International surged 8.1 per cent to hit a new high of Rs 1,104.75 on the BSE on Wednesday, in an otherwise weak market, after commencement of commercial production at Dewas, Madhya Pradesh plant. The stock of the commodity chemicals firm surpassed its previous high of Rs 1,047, touched on December 26, 2019. The stock was at Rs 1,090.65 at close, up 6.74 per cent.

“Post successful mechanical completion and plant trials, the company's Certified Good Manufacturing Facility (cGMP) capacity addition at Dewas Plant, Madhya Pradesh has commenced commercial production with effect from January 6, 2020,” Navin Fluorine