Goa Carbon opened higher at Rs.210 today morning as against yesterday’s close of Rs.203.25. It rose to hit an intraday high at Rs.213.40, its 5% UC.
The company regularly shuts its unit for maintenance. And when it reopens, the market is happy.
So yesterday evening the company announced that the maintenance work at its Paradeep Unit located at Odisha has been completed and the Kiln has been lit up.
After preliminary heat up, feeding of raw material will commence and normal production is likely to resume from tomorrow, 20th December 2019.
The unit had been shut for maintenance work on 3rd December 2019.
The company in Q2FY20 had reported a loss of Rs.14 crore v/s loss of Rs.1.30 crore (YoY). This was on a 11% fall in revenue at Rs.101 crore.
In Q2, company’s Bilaspur unit was shut for eight days and Paradeep for 33 days in the second quarter.