High caustic soda price lifts Gujarat Alkalies, others

By a staff reporter :
Shares of caustic soda manufacturing companies rose today amid bullishness around the companies' business prospects due to higher prices of the chemical.

Prices of caustic soda have reportedly surged 75% in two weeks. The price of a tn of caustic soda is around $162.

Gujarat Alkalies and Chemicals is the leading manufacturer of caustic soda lye, while Punjab Alkalies & Chemicals and TGV SRAAC are also producers. Shares of these companies were up 5-10% today.

Gujarat Alkalies has production capacity of 1,290 tn of caustic soda lye per day. It can also produce 565 tn of caustic soda flakes and 100 tn of caustic soda prills per day, as per the company's website.

Shares of Gujarat Alkalies and TGV SRAAC hit a 40-month high of 678.8 rupees and 51.7 rupees apiece, while Punjab Alkalies hit a near two-month high of 132.8 rupees today. So far this month, the stocks have surged 15-50%.