Kanoria Chemicals & Industries is trading at Rs. 130.55, marking an increase of 6.95 points or 5.62% from its last close of Rs. 123.60 on the BSE.

The stock opened at Rs. 130.10 and fluctuated between a high of Rs. 134.00 and a low of Rs. 128.90, with a total of 14,945 shares exchanged so far.

This group 'B' stock, with a face value of Rs. 5, reached a 52-week high of Rs. 156.30 on January 15, 2024, and a 52-week low of Rs. 101.40 on June 4, 2024. Over the last week, the stock’s high and low have been Rs. 134.60 and Rs. 123.35, respectively. The company's market capitalization currently stands at Rs. 572.60 crore.

Promoters hold 74.40% of the company’s shares, while institutions and non-institutions hold 0.27% and 25.33%, respectively.

Kanoria Chemicals has successfully concluded the expansion of its Formaldehyde production capacity at its Ankleshwar plant in Gujarat. The additional capacity of 345 Metric Tons per Day (MTPD) will commence commercial production on September 6, 2024. This new capacity will help meet the growing demand across various sectors such as automotive, construction, agriculture, cosmetics, and chemicals, both in India and abroad.

Additionally, the company has increased the production capacity of its Hexamine plant in Ankleshwar by 18 MTPD. This expanded capacity will serve the rising demand in sectors such as Phenolic Resins, Textiles, Agrochemicals, Explosives, and Pharmaceuticals, both for domestic consumption and export. The expansion, which cost approximately Rs. 1,270 lakh, is also set to begin commercial production on September 6, 2024.

Kanoria Chemicals & Industries (KCI) is a prominent player in the manufacturing of chemical intermediates in India, with diversified interests in automotive and industrial electronics, renewable energy, and textiles.