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India Glycols shares fall 3.3% after four-day rally
The stock slipped after trading on the BSE, even as its NCLT-approved demerger would split the company into three listed entities.
India Glycols shares fell more than 3% intraday on 19 August, after the stock had gained over four straight sessions. According to BSE data cited by LiveMint Markets, the shares opened at ₹1,152.40 versus the prior close of ₹1,138.60 and slid 3.3% to an intraday low of ₹1,101.05, as the rally appeared set to pause.
Despite the pullback, the company remains up about 10% year-to-date, while the Sensex is down about 10% over the same period. Over longer horizons, the stock has returned about 216% over three years and about 2,198% over the past decade, LiveMint Markets said.
The move comes as India Glycols is progressing with a demerger. LiveMint Markets reported that the company has received NCLT approval for a scheme of arrangement, dated 17 July 2026, under which the spirits, biofuel, and biopharma undertakings will transfer to dedicated resulting companies, while the remaining business stays within India Glycols.
Under the proposal, India Glycols Limited will retain chemicals, glycols, bio glycols, new speciality products, and industrial gases, while the spirits business will form IGL Spirits Limited and the bio-pharma business will form Ennature Bio Pharma Limited, with both new entities planned to be listed on the BSE and NSE. LiveMint Markets also noted that brokerage firm Arihant Capital has a buy recommendation with a target price of ₹1,639, citing the demerger as a value-accretive step.
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