GOCL surges on receiving order from Coal India

The shares of GOCL climbed around 4 per cent intraday on Monday as the company bagged an order from Coal India, announced by the company late on Friday.

In a regulatory filing, GOCL said that the company’s wholly owned subsidiary, IDL Explosives (IDLEL) has received order worth Rs. 375 crore from Coal India for supply of bulk explosives. The time period of order to be executed is over 2 years, which is by October 2021.

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

The shares of GOCL on Monday opened at Rs. 285.60 as against Friday’s close of Rs. 280.95 per share on the BSE. At 10:14 hours, the stock was trading at Rs. 294.00, gaining 4.64 per cent over the previous close. The stock hit an intraday high of Rs. 294.00 and intraday low was Rs. 280.00. Its 52-week high was Rs. 395.55 and 52-week low was Rs. 219.00 per share on the BSE.