Buyback Alert: This Chemical Company Rises 12% Despite Market Decline
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GNFC’s strategic stake increase in GACL sparks a 12.59 per cent jump in shares, offering investors a rare single-day gain amid otherwise weak market returns.
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Gujarat Narmada Valley Fertilisers & Chemicals Ltd (GNFC) has announced a buyback transaction that has caught the attention of investors. GNFC increased its stake in Gujarat Alkalies and Chemicals Ltd (GACL) by purchasing 3,529 equity shares on March 18, 2026.
The total transaction value stood at Rs 15,22,014.61, which places the average purchase price at around Rs 431.25 per share. The company has also confirmed that it will hold these shares for a minimum period of six months, signalling a stable and long-term approach.
Following the purchase, GNFC’s equity shareholding rose slightly from 17,59,996 shares to 17,63,525 shares. However, its overall shareholding percentage remained unchanged at 2.40 per cent.
The market has responded positively to this development. Shares of GACL witnessed a sharp rise of 12.59 per cent, reaching Rs 486.50. This rally reflects growing investor confidence.
GNFC has recorded a notional single-day gain of approximately Rs 1.95 lakh on its recent investment in Gujarat Alkalies & Chemicals Ltd, as the current market price of Rs 486.50 is Rs 55.25 higher than its average acquisition cost of Rs 431.25 per share.
About Gujarat Alkalies & Chemicals Ltd
Gujarat Alkalies & Chemicals Ltd was established in 1973 in Vadodara, the cultural city of Gujarat. Today, GACL is one of the largest chemical manufacturing companies in India. The company is the largest producer of Phosphoric Acid & Sodium Chlorate and the sole producer of Hydrazine Hydrate.
Gujarat Alkalies & Chemicals Ltd Share Price Performance
Gujarat Alkalies & Chemicals Ltd opened at Rs 431.95 on 19 March 2026, almost flat compared to the previous close of Rs 432.10. The stock saw strong volatility throughout the day, hitting an Intraday high of Rs 509.95 and a low of Rs 422.60. Ultimately, it settled at Rs 486.50, marking a significant single-day gain of 12.59 per cent.
Despite today’s surge, GACL has been under pressure in the broader market context. Its year-to-date (YTD) return stands at -1.99 per cent, while the one-year return is -7.77 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.