Gulshan Polyols Share Price Analyzed
Gulshan Polyols, which makes ethanol, saw a big jump in its stock price on Thursday, October 23, 2024. The stock climbed 16% to reach a high of ₹164.70 per share. This was driven by news that the company won a large contract to produce ethanol for oil companies.
Key Points
- Large order: Gulshan Polyols won a ₹1,185 crore ethanol contract.
- Stock soared: Shares jumped 16.06% to an intra-day high.
- Significant volume: 1.5 million shares traded on BSE and NSE.
- Record High: Stock hit a 52-week high of ₹234.30 per share.
- Ethanol Supply: Focused on supplying ethanol for Oil Marketing Companies.
- Financial Support: Received PLI incentive from MP Industrial Development Corporation.
The company announced it secured tenders totaling ₹1,184.86 crore. These tenders were for ethanol to be delivered to oil companies across India during the year 2025-26. This is a significant boost for the company’s business.
Gulshan Polyols received an extra payment of ₹5.3754 crore from the Madhya Pradesh government as part of a program called PLI. This extra money helps the company grow and innovate.
The stock’s performance reflects the growing demand for ethanol in India, driven by the government’s push for biofuels. The company’s success demonstrates the potential of this market.
“Strong performance and strategic contracts are building a solid foundation for continued growth within the biofuels sector.”
