New Delhi, March 24 -- Shares of state-owned Hindustan Organic Chemicals witnessed a sharp rally in early morning trade on Monday, reaching the upper circuit limit of 20% after the Government of India waived off dues amounting to Rs.1,351.38.

The small-cap company, having a market capitalisation of just Rs.215 crore, in an exchange filing late Friday night said, "Ministry of Chemicals & Fertilizers, Government of India vide Order No.1600/9/2024-IFD dated 21.03.2025 received by us today late evening informed that the Parliament has approved waiving off of Government of India dues of HOCL amounting to Rs.1,351.38 crore as on 30.09.2024."

More to come.

Published by HT Digital Content Services with permission from MINT....