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Chambal Fertilisers surges on plan to transfer its textile business to Sutlej Textiles

16 Mar 2015 Evaluate

Chambal Fertilisers & Chemicals is currently trading at Rs. 66.10, up by 0.70 points or 1.07% from its previous closing of Rs. 65.40 on the BSE.

The scrip opened at Rs. 66.00 and has touched a high and low of Rs. 66.60 and Rs. 66.00 respectively. So far 5979 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 73.50 on 19-Feb-2015 and a 52 week low of Rs. 38.50 on 24-Mar-2014.

Last one week high and low of the scrip stood at Rs. 67.00 and Rs. 62.45 respectively. The current market cap of the company is Rs. 2722.00 crore.

The promoters holding in the company stood at 56.77% while Institutions and Non-Institutions held 20.00% and 23.23% respectively.

Chambal Fertilisers & Chemicals has received an approval to transfer its textile business, i.e., Birla Textile Mills located in state of Himachal Pradesh, to Sutlej Textiles & Industries, as a going concern on slump sale basis. The board of directors at their meeting held on March 14, 2015 have approved for the same.

The aforesaid transaction is subject to requisite approvals as may be required. The parties are currently negotiating and finalizing the terms of the Business Purchase Agreement and the other transaction documents, and shall sign these documents as soon as there is consensus.

Chambal Fertilisers & Chemicals is one of the largest private sector fertilizer producers in India. It has three divisions catering agri products, shipping & textiles.

 

Chambal Fert & Chem Share Price

440.45 -6.55 (-1.47%)
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