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Chemical stock jumps 8% after it gets Govt clearance for soda ash greenfield project in Kutch, Gujarat

Prominent chemical company received environment clearance for its Soda Ash Greenfield Project in Kutch, Gujarat, from the Ministry of Environment, Forest, and Climate Change, advancing its expansion plans.
Chemical stock rises 8% after securing government approval for soda ash greenfield project in Kutch.

Introduction:

Prominent chemical company received environment clearance from the Ministry of Environment, Forest, and Climate Change for its Soda Ash Greenfield Project in Kutch, Gujarat, marking a significant step in its expansion plans.

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Share price movement of GHCL:

On December 12, 2024, GHCL Ltd. opened at ₹699.70, up 0.22% from its previous close of ₹698.25. The stock reached a high of ₹759.50 (8.77%) and a low of ₹683.50. The stock closed at ₹739.65, a 5.93% increase, with a market cap of ₹7,082.50 crore.

GHCL gets environment clearance:

GHCL Limited has received environment clearance from the Ministry of Environment, Forest and Climate Change, Government of India, for its Soda Ash Greenfield Project in Kutch, Gujarat. This approval is significant for the company’s upcoming expansion plans in the region.

The environmental clearance allows the company to proceed with its soda ash production facility in Kutch. This move is expected to enhance GHCL’s operational capacity, contributing to the growth of the Indian chemical industry.

GHCL has announced the clearance via its official communication, which is also available on the company’s website. The approval marks an important milestone for the company’s future projects and operations in Gujarat.

Recent news on GHCL:

As of November 01, 2024, GHCL Ltd. reported an 8% rise in its consolidated net profit to ₹154.83 crore for Q2 FY24. However, total income declined to ₹810.23 crore compared to ₹816.65 crore last year.

Ace investor holding in GHCL:

Rajiv Kumar

Rajiv Kumar holds a 1.33% stake in GHCL Ltd, with 1,271,501 shares valued at ₹94.2 crore. This significant holding reflects his involvement in the company’s growth and performance within the chemical industry.

Atul Jain

Atul Jain holds a 1.03% stake in GHCL Ltd, with 990,196 shares valued at ₹73.3 crore. His investment highlights confidence in the company’s performance and its position within the chemical industry.

Stock performance of GHCL for Period of 1 week, 6 months and 1 year:

GHCL Ltd has shown impressive performance, with a 17.2% return over the past week, 41.7% over six months, and 28.7% over the last year, reflecting strong growth and market confidence in the company.

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Shareholding pattern of GHCL:

All values in %Sep 2024Jun 2024Mar 2024
Promoter19.00%19.00%19.00%
FII25.70%24.80%25.00%
DII9.80%9.30%8.30%
Public45.50%46.90%47.70%
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About GHCL:

GHCL Ltd. (NSE: GHCL) is a leading Indian manufacturer of soda ash and home textiles, with a capacity of 9.75 lakh TPA for soda ash. It also produces refined sodium bicarbonate and operates captive limestone mines in Gujarat.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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