Stock Market Today: India Glycols Ltd share price surged over 8% in the morning trade on Tuesday after the company announced the expansion of grain-based distillery and bio-fuel ethanol capacities.
India Glycols Ltd share price opened at ₹1259.95 on the BSE, almost 2.6% higher than its previous close of ₹1227.85. India Glycols Ltd share price thereafter went on to gain further to ₹1330, marking a gain of more than 8%.
India Glycols Ltd share price with today's gains inched close to its one-year or 52-week high of ₹1399.75.
India Glycols announced the capacity expansion of grain-based distillery and bio-fuel ethanol at Gorakhpur (Uttar Pradesh) and Kashipur (Uttarakhand) plants. It also announced the expansion of facilities/projects for new value-added chemical products at Kashipur.
India Glycols successfully added a further capacity of 100 KLPD (kilo litre per day) to the existing grain-based distillery at Kashipur (Uttarakhand), the company said in a filing. The revised enhanced capacity of Grain Based Distillery at Kashipur is 500 KLPD and is commissioned, the release added.
India Glycols announced adding 180 KLPD to the existing bio-fuel ethanol plant (ethanol to bio-fuel conversion) at Kashipur. With this, the revised enhanced capacity of bio-fuel ethanol plant at Kashipur is 590 KLPD and is commissioned, the company informed bourses.
India Glycols also announced adding 2,500 MT per year to the facilities/projects for new value-added chemical products at Kashipur. With this, the revised enhanced capacity of facilities/projects is 7,500 MT/year (depending upon the product mix) and is commissioned, it added.
India Glycols said that the remaining facilities/projects are expected to be commissioned by Q1/FY 26.
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.
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