Chemcon Speciality jumps up

Chemcon Speciality is buzzing today, rising almost 12% to an intraday high at Rs.465.65, not too far from its 52-week high of Rs.482.45. Volumes were up 4x.

The stock price rose after the company announced that it has successfully commenced commercial production at P9 facility at Manjusar, Near Vadodara, Gujarat. The company has added a capacity of 2,400 MTPA of Bromo Benzene at the P9 facility.

The company is further evaluating to add a pharma chemical, Guanine, at the same unit.

The company has commissioned nearly 2.1 MW solar power plant at Dabhoi, Vadodara with an investment of ~Rs 10 crores. This solar power plant will be used for captive consumption.