Shares of Goa Carbon Ltd, a leading Indian manufacturer of calcined petroleum coke (CPC), a crucial raw material for the aluminium and steel industry, surged by 9.4 per cent on Thursday during trading on the Bombay Stock Exchange (BSE), reaching an intraday high of INR 762.5 per share. The rally followed the company’s announcement that its Bilaspur unit in Chhattisgarh had resumed normal operations.
Calcined petroleum coke plays a vital role in refining aluminium and producing graphite. It is primarily used in the manufacture of carbon products such as graphite electrodes and anode arcs. Additionally, it is widely utilised in steelmaking, non-ferrous metal production, and aluminium smelting, making it a critical component across these industries.
Reason behind the growth
The rise in Goa Carbon Ltd’s stock price came after the company disclosed in an exchange filing that operations had resumed at its Bilaspur unit in the Sirgitti Industrial Area, Bilaspur. The unit had been temporarily shut down for maintenance, as announced on December 17, 2024.
Established in 1967 and based in Goa, Goa Carbon Ltd is a key contributor to the global supply chain for calcined petroleum coke (CPC), a crucial raw material for the aluminium and steel industries. The company operates two manufacturing facilities in Goa and Gujarat, where it produces CPC by subjecting petroleum coke to high-temperature processing.
At 10:05 AM on Thursday, January 2, the company’s shares were trading 8.35 per cent higher at INR 762.50 per share, while the BSE Sensex gained 0.40 per cent to reach 78,824.16 points. Goa Carbon’s market capitalisation stood at INR 690.9 crore. Over the past 52 weeks, the stock has recorded a high of INR 1,009.45 per share and a low of INR 564.10 per share.
Goa Carbon’s calcined petroleum coke is mainly utilised in aluminium production and graphite manufacturing. A significant portion of its output is exported, bolstering the company’s presence in international markets.
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