GOCL Corporation receives new orders; stock jumps over 9 per cent
The company along with IDL Explosives Limited (IDLEL), which is a wholly-owned subsidiary of GOCL Corporation Ltd, have bagged orders from Coal India Limited.
The orders bagged are related to the supply of raydets, electronic and other detonators, and cartridge explosives to Coal India Limited. This is to be supplied over a period of two years. The consideration of the total orders sums up to Rs 286.63 crore.
Gulf Oil Corporation Limited (GOCL) is engaged in the manufacturing & packaging of bulk explosives as well as metal clad. The company is a part of the international Hinduja Group and has diversified business operations. The current business activities of the company include energetics, mining & infrastructure services, and property development.
At 9.30 am on Friday, the share price of the company was trading 9.48 per cent or Rs 25.10 higher at Rs 279.95 on BSE.
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