India Glycols shares rose 8 percent intraday on October 1 after company announced capacity expansions at their Kashipur plant in Uttarakhand.
At 14:28am, India Glycols was quoting at Rs 1,326.90, up Rs 99.05, or 8.07 percent, on the BSE.
The company has successfully enhanced its grain-based distillery capacity by 100 KLPD, bringing the total to 500 KLPD. Additionally, the bio-fuel ethanol plant capacity has increased by 180 KLPD, resulting in a new total of 590 KLPD.
Furthermore, India Glycols has expanded its facilities for value-added chemical products by 2,500 MT/year, raising the total capacity to 7,500 MT/year. This facility has also been commissioned. The remaining expansions are expected to be completed by Q1 FY26.
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The work for enhancement of grain-based distillery capacity by 180 KLPD and the bio-fuel ethanol plant (Ethanol to Bio-Fuel conversion) by 90 KLPD at Gorakhpur (Uttar Pradesh) is in progress and the same is expected to be commissioned by Q4/FY25.
Moreover, in September, the company formed a partnership with Amrut Distilleries for the manufacturing and marketing of premium brands, indicating a strategic move to expand its product portfolio.
The share touched a 52-week high of Rs 1,399.75 and a 52-week low of Rs 620.75 on 02 September, 2024 and 26 October, 2023, respectively.
Currently, the stock is trading 5.2 percent below its 52-week high and 113.76 percent above its 52-week low.
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