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Oriental Carbon surges on expanding insoluble sulphur capacity to 45000 MTPA over next 3 years

Oriental Carbon & Chemicals is currently trading at Rs. 1164.95, up by 33.95 points or 3.00% from its previous closing of Rs. 1131.00 on the BSE.

The scrip opened at Rs. 1154.00 and has touched a high and low of Rs. 1164.95 and Rs. 1153.60 respectively. So far 8 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1230.00 on 06-Aug-2018 and a 52 week low of Rs. 901.00 on 08-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1164.95 and Rs. 1093.00 respectively. The current market cap of the company is Rs. 1152.46 crore.

The promoters holding in the company stood at 51.56%, while Institutions and Non-Institutions held 24.00% and 24.44% respectively.

Oriental Carbon & Chemicals (OCCL) has received approval for expansion of its Insoluble Sulphur capacity from 34000 MTPA to 45000 MTPA over next 3 years at Dharuhera, Haryana in two phases of 5500 MTPA each along with the addition of Sulphuric Acid capacity of 42000 MTPA, with an investment of around Rs 216 crore including Rs 7.5 crore of working capital margin.

The first phase of Insoluble Sulphur Plant and Sulphuric Acid Plant are expected to be commissioned by the third quarter of FY 2020-21. The Board of Directors of the Company at its meeting held on May 10, 2019 has approved the same.

Oriental Carbon & Chemicals is an India-based company, engaged in the manufacture of Insoluble Sulphur and Sulphuric Acid. The Company has two segments: Chemicals, including Sulphuric Acid and Oleum and Insoluble Sulphur.

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