On Monday this small-cap stock gains up to 4% after the board considers buyback of shares. This stock has delivered 23% returns in six months and 15% returns in YTD. The stock closed 12.5% away from the 52-week high and above the both 50-day and 200-day moving averages.
Gujarat Narmada Valley Fertilizers & Chemicals Ltd
The company has a market capitalization of Rs. 10,149 Cr making it a small-cap company. On Monday the stock rose up to 4% and closed 0.77% down at Rs. 653.05 on the BSE.
According to the BSE filing, The board of directors meeting of the company will be held on Wednesday, 8th November 2023, the board will consider a Proposal for the back of Equity Shares of the company.
As per the company filing, the total revenue declined by 37.2% from Rs. 2,772 Cr in Q1 FY23 to Rs. 1,740 Cr in Q1 FY24 and the company reported a net profit of Rs. 85 Cr in Q1 FY24 against a profit of Rs. 569 Cr in Q1 FY23.
As per the latest shareholding information, Promoters hold 41.18%, FIIs hold 19.67%, DIIs hold 4.11% and the public hold a 35.04% stake in the company.
Gujarat Narmada Valley Fertilizers & Chemicals Ltd is a company that manufactures and sells fertilizers & industrial chemicals and provides information technology services. The company’s business segments include fertilizers, chemicals, and others. The company generates the majority of its revenue from the sale of chemicals.
Written by Sheshadri N
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