GOCL Corporation, along with IDL Explosives Limited (IDLEL), a wholly owned subsidiary, have bagged orders from Coal India.
Orders are worth an aggregate amount of Rs. 287 crore for supply of Raydets, Electronic and other Detonators and cartridge explosives. This is for a period of 2 years, June 2021 to May 2023.
A part of the Hinduja group, Gulf Oil Corporation (GOCL) is engaged in manufacturing industrial explosives, mining products, lubricants, speciality oils and chemicals.
The market reacted by hitting a new high at Rs.296.40, going up over 16% and volumes are up almost 3 times.