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GOCL Corporation surges on repaying $300 million availed in 2012

GOCL Corporation is currently trading at Rs. 323.60, up by 7.30 points or 2.31% from its previous closing of Rs. 316.30 on the BSE.

The scrip opened at Rs. 323.15 and has touched a high and low of Rs. 323.60 and Rs. 322.00 respectively.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 359.55 on 04-Apr-2019 and a 52 week low of Rs. 219.05 on 23-Jul-2019.

Last one week high and low of the scrip stood at Rs. 325.00 and Rs. 304.35 respectively. The current market cap of the company is Rs. 1567.98 crore.

The promoters holding in the company stood at 74.93%, while Institutions and Non-Institutions held 5.36% and 19.71% respectively.

GOCL Corporation has fully repaid LOC/SBLC Facility of $300 million availed in the year 2012 by the Company’s UK based wholly owned subsidiary, in connection with the acquisition of Houghton International Inc. The Company has received no dues certificate from the bank which has provided the facility. The aforesaid facility was secured by way of equitable mortgage on the Company’s immovable properties.

GOCL Corporation is engaged in manufacturing industrial explosives, mining products, lubricants, speciality oils and chemicals, active pharma ingredients (bulk drugs) and pharma formulations.

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