NACL Industries stock gains on environment clearance to set up chemicals plant

The share touched 52-week high of Rs 110.80 and 52-week low of Rs 70 on 02 January, 2023 and 30 May, 2022, respectively.

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Shares of NACL Industries rose 7 percent in the early trade on March 16 after company’s wholly owned subsidiary received clearance from Ministry of Environment.

The Ministry of Environment, Forest and Climate Change has granted the environment clearance to M/s. NACL Multichem Private Limited, a wholly owned subsidiary, with respect to its proposed establishment of manufacturing facility at Ranastalam Mandal, Srikakulam District, Andhra Pradesh, the company said in a regulatory filing.

The said clearance is for manufacturing of various agrochemicals, synthetic organic chemicals and fluorine based chemicals with a production capacity of 264.615 TPD and co-generation power plant (6MW), it added.

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For the quarter ended December 2022, NACL Industries reported total income of Rs 486. 63 crore, a YoY growth of 20 percent.

Its profit after tax (PAT) stood at Rs 16 crore versus Rs 15.47 crore, during the period under review.

At 09:26 hrs NACL Industries was trading at Rs 84.80 apiece, up Rs 2.10, or 2.54 percent on the BSE.

The share touched 52-week high of Rs 110.80 and 52-week low of Rs 70 on 02 January, 2023 and 30 May, 2022, respectively.

Currently, it is trading 23.47 percent below its 52-week high and 21.14 percent above its 52-week low.