The propylene oxide is the feedstock for propylene glycol which is a pharmaceutical input.
Shares of Manali Petrochemicals were locked in 10 percent upper circuit after the company recommenced production of propylene oxide.
The stock has been one of the biggest gainers in the last two weeks, rising 82 percent after seeing a 62 percent correction from January 17 to March 25. It was trading at Rs 16.28 on the BSE, up Rs 1.48 or 10 percent at 1144 hours IST.
The petrochemical company informed exchanges on April 8 that the production of propylene oxide has recommenced on April 7 at its plant 1.
The propylene oxide is the feedstock for propylene glycol which is a pharmaceutical input.
"The decision on resumption of production of the other products will be decided in due course," Manali Petrochemicals said in its BSE filing.
On April 3, the company said it has restarted production of propylene glycol at its both the plants.
On account of the COVID-19 situation and 21-day nationwide lockdown from March 25, the plant operations had been shut down from March 27.Time to show-off your poker skills and win Rs.25 lakhs with no investment. Register Now!
