On Monday this PSU stock declined up to 3 percent after Life Insurence Corporation of India (LIC) sold a 2 percent stake in the company. This stock has delivered a 42% return to the investors in one year. The stock has closed 28% below the 52-week high.
National Fertilizers Ltd
National Fertilizers Ltd. has a market capitalization of Rs. 3,436 Cr making it a small-cap company. The stock closed at Rs. 70.05 on Monday. The stock witnessed an intra-day low of Rs. 68.48 indicating a fall of up to 3 percent as compared to the previous closing price of Rs. 70.66.
According to the BSE filing, LIC, during the period from August 10, 2023 to October 06, 2023, sold around 98.9 lakh shares which equates to around 2 percent of the company’s equity through open-market transactions.
Pre-sale, LIC held around 4.5 Cr shares i.e., 9.275 percent stake, and post-sale, LIC holds around 3.5 Cr shares equating to a 7.257 percent stake in National Fertilizers Ltd.
As per the company filing, total revenue declined by 21.7% from Rs.6,462.33 Cr in Q1 FY23 to Rs. 5,059.75 Cr in Q1 FY24 and the company reported a net loss of Rs. 121.43 Cr in Q1 FY24 against profit of 125.46 Cr in Q1 FY23.
As of June 2023, Promoters hold 74.71%, FIIs hold 0.39%, DIIs hold 11.89% and the public hold a 13.01% stake in the company.
National Fertilizers Ltd is in the chemical manufacturing business. Its operating segments include own Fertilizer, Fertilizer Trading, and Other Products and Services. The Own Fertilizers segment, which includes Urea, Bio-Fertilizers, and Bentonite Sulphur, generates the most income for the compnay.
Written by Sheshadri N
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