DCM Shriram Ltd signs MoU with Government of Gujarat to invest INR 12,000 Crores by 2028

DCM Shriram Ltd, India's second largest Chlor Alkali manufacturer, signed a Memorandum of Understanding with the Government of Gujarat to invest a proposed INR 12,000 Crore in manufacturing of Chemical and Petrochemicals products in the Bharuch by 2028.

The MoU was signed in a ceremony held at Gandhinagar, Gujarat on 3rd January 2024 in the presence of Hon'ble CM Shri Bhupendrabhai Patel along with other ministers and senior officials from the state government. The ceremony was a part of Vibrant Gujarat Global Summit 2024 which will take place on 10-12th January 2024 in Mahatma Mandir, Gandhinagar, Gujarat.

DCM Shriram currently has significant Chlor Alkali facilities in Bharuch, Gujarat and aims at increasing the existing capacities while adding new products to its ChlorAlkali portfolio.

The current business portfolio of DCM Shriram spans across multiple sectors including Chlor-Vinyl Business - (Caustic Soda, Chlorine, Aluminium Chloride, Calcium Carbide, PVC Resins, PVC Compounds, Power and Cement); the AgriRural Business (Urea, Sugar, Ethanol, Farm Solution Business covering entire range of inputs, R&D based Hybrid Seeds.) and Value Added Business - Fenesta Building Systems which makes UPVC and Aluminium Windows & Doors.

Shares of DCM Shriram Limited was last trading in BSE at Rs. 1039.05 as compared to the previous close of Rs. 1038.50. The total number of shares traded during the day was 2829 in over 339 trades.

The stock hit an intraday high of Rs. 1054.85 and intraday low of 1030.00. The net turnover during the day was Rs. 2939622.00.

Source : Equity Bulls

Keywords

DCMShriram INE499A01024 MoU GujaratGovernment