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Alkali metals surges 63% after discount listing

This article was posted on Nov 6, 2008 and is filed under Stock News

MUMBAI: Alkali Metals recovered from a weak listing to surge 63 per cent to Rs 167.85 on the BSE at 1:02 pm on Thursday. The high so far is Rs 169.70.The stock had listed at Rs 90, a discount of 12.62 per cent to its issue price of Rs.103 per share. The company had come out with 1.01 crore share public offering.

The company manufactures a range of fine chemicals, based on related chemistry. It plans to utilise the issue proceeds to fund its expansion plans.

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