dkishore
19-06-2008, 05:30 AM
Navin Fluorine International (NFIL), an Arvind Mafatlal Group company, operating the largest integrated fluorochemicals complex in India has been gradually inching up on the bourses on sustained buying by investors.
The counter has been appreciating, on talk of windfall gains from carbon credits. Analysts maintain that price of carbon credit has jumped by almost 100%, i.e from $10 to $26 (19 euros). Given that the company is said to have 2.8 million carbon credits, on an equity capital of 10 crore, this is expected to translate into substantial cash flows that would improve its core business.
NFIL, manufactures hydro chlorofluorocarbon, at its Bestan plant located in Surat. According to the Kyoto protocol, the company is entitled to carbon credits if it stops the emission of toxic gas(generated by its bye-product) in the atmosphere.
The company is putting up a thermal oxidiser, which will decompose the gas into harmless constituents, making NFIL eligible for carbon credits. NFIL also manufactures other range of refrigerants and specialty chemicals at this facility. The company caters to the needs of the refrigerant industry, metal processing, abrasives industry, glass and ceramics industry, polymer industry, and the fast-growing life science and crop-science industries.
The counter has been appreciating, on talk of windfall gains from carbon credits. Analysts maintain that price of carbon credit has jumped by almost 100%, i.e from $10 to $26 (19 euros). Given that the company is said to have 2.8 million carbon credits, on an equity capital of 10 crore, this is expected to translate into substantial cash flows that would improve its core business.
NFIL, manufactures hydro chlorofluorocarbon, at its Bestan plant located in Surat. According to the Kyoto protocol, the company is entitled to carbon credits if it stops the emission of toxic gas(generated by its bye-product) in the atmosphere.
The company is putting up a thermal oxidiser, which will decompose the gas into harmless constituents, making NFIL eligible for carbon credits. NFIL also manufactures other range of refrigerants and specialty chemicals at this facility. The company caters to the needs of the refrigerant industry, metal processing, abrasives industry, glass and ceramics industry, polymer industry, and the fast-growing life science and crop-science industries.