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Zuari Industries rises on the bourses

23 Aug 2011

Zuari Industries is currently trading at Rs. 651.95, up by 15.25 points or 2.40% from its previous closing of Rs. 636.70 on the BSE.

The scrip opened at Rs. 635.00 and has touched a high and low of Rs. 653.50 and Rs. 635.00 respectively. So far 1,889 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 895.00 on 25-Oct-2010 and a 52 week low of Rs. 557.25 on 10-Feb-2011.

Last one week high and low of the scrip stood at Rs. 681.70 and Rs. 622.00 respectively. The current market cap of the company is Rs. 1,919.00 crore.

The promoters holding in the company stood at 34.37% while Institutions and Non-Institutions held 29.51% and 36.12% respectively.

Zuari Industries has reported that a major fire broke out due to leak in pipeline carrying feedstock on August 19, 2011 near Mangor Hill at Vasco-da-Gama, Goa. The fire had occurred due to excavation work being carried out by the contractor of National Highway Authority of India which damaged the underground naphtha pipeline, owned by joint venture of the company namely, Zuari Indian Oiltanking (ZIOL).

Further, the cross country pipeline is of 14 kms in length from the Mormugao Port to the Terminal of ZIOL and carries petroleum products apart from Naphtha. In view of the accident, there may be impact on feedstock supplies to the company and consequently, production of urea at the company's facility.

Zuari Industries, part of the K.K. Birla Group, was incorporated as Zuari Agro Chemicals to manufacture urea and complex fertilizers. The company forayed into various business areas such as cement, furniture, hybrid seeds, engineering consultancy, financial services, and oil tanking through a route of subsidiaries and joint ventures. 

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