Goa Carbon Shares Surge After Bilaspur Unit Resumes Operations

Saurabh Gupta1 week ago

Goa Carbon Ltd, a leading manufacturer of calcined petroleum coke (CPC) in India, saw its shares soar by 9.4% during Thursday’s trade on the Bombay Stock Exchange (BSE), hitting an intraday high of ₹762.5 per share. The rally came after the company announced that its Bilaspur unit in Chhattisgarh had resumed normal operations.

Resumption of Operations Boosts Investor Confidence

The surge in stock price followed an exchange filing from the company, confirming that operations at the Bilaspur unit, located at the Sirgitti Industrial Area in Bilaspur, had resumed. The unit had been temporarily shut down for maintenance work, as per the company’s earlier announcement on December 17, 2024.

At 10:05 AM on January 2, Goa Carbon’s share price was up 8.35% at ₹762.50 per share. In comparison, the BSE Sensex was up by 0.40% at 78,824.16 points. The company’s market capitalization stood at ₹690.9 crore. Goa Carbon’s shares have seen a 52-week high of ₹1,009.45 per share, while the low for the same period was ₹564.10 per share.

Goa Carbon’s Role in the Global Petroleum Coke Industry

Founded in 1967 and headquartered in Goa, Goa Carbon Ltd is a significant player in the global supply chain for calcined petroleum coke, an essential raw material in the aluminum and steel industries. The company operates two manufacturing plants, one in Goa and another in Gujarat, where it produces CPC through the high-temperature heating of petroleum coke.

The calcined coke produced by Goa Carbon is primarily used in aluminum production and graphite manufacturing. The company also exports a considerable portion of its production to international markets, strengthening its position in the global market.