Shares of Gulshan Polyols advanced 4 percent to Rs 232 in early trade on December 5 as the company received a contract to supply ethanol to oil marketing companies (OMCs).
At 9:34am, Gulshan Polyols was quoting Rs 231.40, up Rs 8.80, or 3.95 percent, on the BSE.
"We have been awarded a contract for supplying 89,404 kilolitres of ethanol from our 500-KLPD ethanol plant at Boregaon at an order value of Rs 571.50 crore," the company said in a statement. The company will have to supply ethanol till October 31, 2024.
Gulshan Polyols had posted a 76 percent fall in its September quarter net profit at Rs 2.17 crore.
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The share touched a 52-week high of Rs 274.95 and a 52-week low of Rs 159.17 on July 4, 2023 and March 29, 2023. Currently, the stock is trading 15.84 percent below its 52-week high and 45.38 percent above its 52-week low.
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