The manufacturer of speciality chemicals has commenced commercial production at P9 facility at Manjusar, Gujarat, the company informed the bourses via an exchange filing.
"The company has launched a new product bromo benzene and added a capacity of 2,400 MTPA of bromo benzene at the P9 facility," the filing added.
Following the announcement, shares of Chemcon Speciality Chemicals surged over 11 per cent to Rs 464.9 on Thursday, before trading at Rs 460.15 at 10.15 am. The scrip settled at Rs 417.10 on Wednesday.
The bromo benzene is a special category of organic bromides, which can be traded in both domestic and international markets.
The new facility has been funded by the proceeds raised via initial public offering (IPO) and internal accrual.
This capacity addition by the company will help to cater to growing demand from bromo benzene customers, the company said.
Shares of Chemcon Speciality Chemicals have zoomed about 75 per cent in the last six months, whereas the stock has traded almost flat in the last one year.
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