TECIL Chemical & Hydro Power Share Price

Tecil Chemicals Hydro Power (TCPL) was incorporated in 1945. Promoted by V P Varde and M S Bhandarkar, it was taken over by G D Somani and family in 1964. The company is engaged in the manufacture of calcium carbide, acetylene black, ferro silicon and desulphurisation compounds. It diversified into power generation by setting up two hydel power projects for captive power consumption.Calcium carbide is used in the manufacture of acetylene gas, PVC, desulphurisation compounds, etc. Acetylene black is mainly used for dry cell batteries. Ferro silicon and desulphurisation compounds are mainly used by mini steel and integrated steel plants for refining steel.Since the products manufactured by the company are power intensive, uninterrupted and adequate supply of power from captive units are expected to improve its performance. This will give it an edge over its competitors in the market. The company has also upgraded its calcium carbide and ferro silicon plants under the technical supervision of Elkem Metallurgy, Norway.The Ullunkar Power Project was completed in 1999. The Company is planning to raise money for the projects by issuing Preference Shares to the extent of Rs. 900 lacs on private placement basis. During 200102 there were no progress of work at Ullynkal Hydro Power Project at 7 MW capacity and Karikkayyam Power Project.