Chemfab Alkalies zooms 77% in 5 weeks on strong business outlook

With the focus of both the Central as well as State Governments on water connectivity and distribution, the company expects demand for the PVCO pipes to be robust.

Shares of Chemfab Alkalies hit over four-year high of Rs 297.20, up 5 per cent on the BSE on Thursday. The stock of commodity chemicals locked at upper circuit for the fourth straight day. In the past five weeks, it has zoomed 77 per cent from Rs 167.80 touched on July 21, on strong business outlook.

Chemfab Alkalies is in the business of manufacturing basic inorganic chemicals and PVCO pipes. The stock traded at its highest level since April 2018. It hit a record high of Rs 314.95 on April 25, 2018.

For April-June quarter (Q1FY23), Chemfab Alkalies