I G Petrochemicals Limited board approves greenfield expansion

The Board of Directors of I G Petrochemicals Limited at their meeting held today have approved the Greenfield Expansion of Phthalic Anhydride & its Derivatives up to 80,000 MTPA at an outlay of approx. Rs. 600 crores.

The demand for Phthalic Anhydride in domestic market is expected to increase due to Govt. focus on Infrastructure spending and demand growth in downstream products like Paints, Plasticizers¸ Polyvinyl chloride, Unsaturated polyester resins (UPR) etc., led by good GDP growth in India.

Shares of I G PETROCHEMICALS LTD. was last trading in BSE at Rs.471.2 as compared to the previous close of Rs. 481.15. The total number of shares traded during the day was 13446 in over 995 trades.

The stock hit an intraday high of Rs. 490 and intraday low of 471.2. The net turnover during the day was Rs. 6438148.

Source : Equity Bulls

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