The shares of the leading fertilizers and chemicals manufacturing company gained 10% reaching 52 week high price of ₹245 per share on friday after company’s board of directors approved a contract with Topsoe for the revamp of its ammonia plant at RCF Thai for value of ₹514 crores.
At 11:45 a.m., Rashtriya Chemicals & Fertilizers Ltd. shares were trading at ₹234 a share, a 5.19 percent increase over the previous close price. The company is valued at ₹12,912 crore on the stock exchange.
What News:
Rashtriya Chemicals & Fertilizers announced in an exchange filing that the Board of Directors approved a purchase order with Topsoe for the procurement of a Basic Engineering Design Package (BEDP) and the supply of proprietary equipment and catalysts, to revamp of the ammonia plant at RCF Thal, aiming to reduce specific energy consumption, at a cost of ₹514 crores.
About the company:
Rashtriya Chemicals & Fertilizers, a public sector undertaking (PSU), is involved in the manufacturing and marketing of fertilizers and industrial chemicals.
The company produces urea, biofertilizers, and micronutrients under the brand names Ujwala, Suphala, Biola, and Microla, respectively.
Rashtriya Chemicals & Fertilizers operates two manufacturing units located in Thal and Trombay, Maharashtra. The Thal unit has a production capacity of 20 lakh MT, producing ammonia, urea, methylamines, and more. The Trombay unit has a capacity of 3.3 lakh MT and manufactures ammonia, urea, NPK, nitric acid, sulphuric acid, among other products.
Rashtriya Chemicals & Fertilizers shares have increased by 38% over the past six months and by 101% over the past 12 months.
The Government of India owns a 75% stake in Rashtriya Chemicals & Fertilizers, while Foreign Institutional Investors (FII) hold 2.40%, and Domestic Institutional Investors hold 0.35% of the company.
Written by Omkar Chitnis
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