Shares of Gujarat State Fertiliser and Chemicals gained over 14 per cent after the company said the National Highway Authority of India (NHAI) is likely to use its 'Nylon 6 fibre products' for its infrastructure projects including construction of roads across the country.
The stock ended the day 11.79 per cent up after hitting an intraday high of Rs 86.70, up 14.22 per cent on the Bombay Stock Exchange (BSE).
The National Highway Authority of India (NHAI) is likely to use Gujarat State Fertiliser and Chemicals (GSFC) 'Nylon 6 fibre products' for its infrastructure projects including construction of roads across the country.
"GUJCON - CRF Nylon 6 fibre is being assessed by the Ministry of Road Transport and Highways and they are likely to use it in their forthcoming projects," GSFC Chairman and Managing Director Sandeep Kumar Nanda told PTI.
This follows successful application trials of GUJCON CRF in rigid pavement at Godhra-Dahod Highway and Ahmedabad -Vadodara National Highway in Gujarat.
GSFC, promoted by the Gujarat government has recently exported the first consignment of Gujcon CRF and PRF to Myanmar.
The MD claimed that countries across the globe like Sri Lanka, Zambia, Uganda, Kenya, the United Arab Emirates and others have shown interest in these products.
Concrete Reinforced fibre (CRF) and nylon reinforced fibre (PRF) are used in construction and infrastructure industries as these products help in enhancing the abrasion resistance and durability of concrete structure, reduce shrinkage cracks and rebound loss and water permeability.