Name: Hindustan Organic Chemicals Limited
Current Mkt Price: Rs. 64.70 (as on 30/9/2007)
Target : Rs. 225 (18- 24 months)
Hindustan Organic Chemicals Limited (HOC) was set up by the Government of India in 1960 with the objective of attaining self-reliance in basic organic chemical needs. In fact this was the first endeavor to indigenise manufacture of basic chemicals and to reduce country's dependence on import of vital organic chemicals. HOC, started as small chemical unit, has today acquired the status of a multiunit company with two fast growing units and one subsidiary unit. The Company has achieved turnover of about Rs. 4500 million in 1999-2000.
It was expected that indigenous manufacture of these chemical intermediates will give impetus to downstream industries resulting in setting up of chemical units and achieving self-sufficiency for the country in this area. This objective of setting up HOC has been achieved and at present more than 500 units based on HOC's products have been set up all over the country which have not only succeeded in meeting the goal of self-sufficiency but also entered the international markets earning precious foreign exchange by exporting chemicals, dyes and drugs.
Main Manufacturing Units of HOC comprises
·The Nitro Aromatic Complex at Rasayani in Raigad District (Maharashtra)
·Polyurethane System House at Rasayani
·The Phenol Complex at Kochi (Kerala)
·The Polytetrafluroethylene (PTFE) Complex (Subsidiary) at Rudraram, Hyderabad (Andhra Pradesh)
HOC provides Basic Organic Chemicals essential for Vital Industries. The main products manufactured by HOC are Phenol, Acetone, Nitrobenzene, Aniline, Nitrotoluenes, Chlorobenzenes and Nitrochlorobenzenes. The raw materials used by HOC are Benzene, Toluene, LPG, Methanol, Naphtha and Sulphur, majority of which come from petroleum refineries.
HOC provides the basic organic chemicals essential for vital industries like resins and laminates, dyes and dyes intermediates, drugs and pharmaceuticals, rubber chemicals, paints, pesticides and others, touching virtually facet of everyday life.
It also produces the versatile engineering plastic polytetrafluoroethylene (PTFE) through its subsidiary.
The disinvestment procedure of government`s 32.61 per cent stake in Hindustan Organic Chemicals Ltd (HOCL) is expected to be completed soon. Six chemical and fertiliser companies have submitted their expression of interest (EoIs) which include
Chambal Fertilizers and Chemicals, Vam Organic Chemicals, Schenectady India, Atul Ltd, Deepak Fertilisers and Petrochemicals and Rashtriya Chemicals and Fertilisers.
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