Hindustan Organic Chemicals announces temporary shutdown at Kochi plant; Stock gains 1.5%

24 Aug 2022 , 09:19 AM

Hindustan Organic Chemicals Ltd (HOCL) has announced to the exchanges regarding temporary shutdown of Company’s Phenol and Cumene plant from August 24, 2022 onwards.

As per the filing, Company’s Phenol and Cumene plant located at Kochi will be temporarily shutdown from August 24, 2022 onwards due to unviable market conditions. However, the Hydrogen Peroxide Plant will continue to run, the company said.

In addition to this, it further added that re-opening of Phenol and Cumene Plant shall be intimated separately to the Stock Exchanges.

At around 9:18 AM, Hindustan Organic Chemicals Ltd is currently trading at Rs31.45 per share up by Rs0.5 or 1.62% from its previous closing of Rs30.95 per share on the BSE.