Black Rose Industries begins commercial production of polyacrylamide liquids
Shares of Black Rose Industries, a Speciality Chemicals company, jumped nearly 6 per cent on the bourses on announcement of production of polyacrylamide liquids.
The company in a press release informed that it has commenced the commercial production of the polyacrylamide liquids at its plant situated at Jhagadia, Gujarat.
The company’s entry into the polyacrylamide business is expected to be a game changer for the Indian polyacrylamide industry. While polyacrylamide liquids are already produced in good volumes in India, the country still depends on imports for 99 per cent of its 100,000MT polyacrylamide solid demand.
Since, there is not a single large scale producer of polyacrylamide solids in India as of today and the company expects to gain significantly from a first-mover advantage in this field. The company is also expanding its acrylamide production facility from 14,000MT to 20,000MT per year.
Black Rose Industries is primarily in the business of chemical distribution and chemical manufacturing, as well as textile manufacturing and renewable energy generation.
On Wednesday, the stock opened at Rs. 71.00 and jumped nearly 6 per cent. It made an intraday high of Rs. 75.00 on the BSE.