Financial Wire

Hindustan Organic Chemicals Begins Process to Restart Kochi, India Unit's Operations; Shares Jump 15%

-- Hindustan Organic Chemicals (BOM:500449) has begun the process of restarting the necessary plant activities for the commercial production of its phenol and cumene plant in Kochi, India, according to a Monday filing to the BSE.

The company had shut down the phenol and cumene plants of the HOCL Kochi unit due to a shortage of raw materials amid the ongoing geopolitical tensions.

However, Bharat Petroleum Corporation (NSE:BPCL, BOM:500547) has resumed the supply of liquified petroleum gas in accordance with the directions of the Government of India, enabling the restart of the Kochi plant's operations.

The company's shares surged 15% in recent trade.

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Hindustan Organic Chemicals Begins Process to Restart Kochi, India Unit's Operations; Shares Jump 15% | Financial Wire