GOCL shares jump 5 per cent on recent order win of Rs 187 crore

The share price of GOCL Corporation surged up to 5 per cent on Friday after its wholly-owned subsidiary, IDL Explosives, won an order to supply explosives and accessories worth Rs 186.8 crore from Singareni Collieries.

Singareni Collieries Company is a PSU of Telangana. The above-mentioned order consists of the supply of SMS/SME explosives and large-diameter cartridge (LDC) explosives & accessories, which are to be completed in a period of 2 years. The cost of the project also included an escalation clause, the company added in a filing to BSE.

GOCL Corporation is engaged in the manufacture of industrial explosives, mining products, lubricants, speciality oils and chemicals, active pharmaceutical ingredients (bulk drugs), and pharma formulations.

At 1.50 pm on Friday, the stock of GOCL Corporation was trading at Rs 188.65 per share, up by 4.81 per cent or Rs 8.65 per share on BSE, against a 0.46 per cent gain in the benchmark index. The 52-week high is recorded at Rs 315 and the 52-week low is Rs 111 on BSE.