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RCF trades with traction on Government’s plan of divesting 12.5% stake

19 Dec 2012

Rashtriya Chemicals & Fertilizers is currently trading at Rs. 56.80, up by 1.60 points or 2.90% from its previous closing of Rs. 55.20 on the BSE.

The scrip opened at Rs. 56.10 and has touched a high and low of Rs. 57.60 and Rs. 55.85 respectively. So far 254422 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 73.45 on 14-Feb-2012 and a 52 week low of Rs. 42.15 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 57.50 and Rs. 54.15 respectively. The current market cap of the company is Rs. 3139.11 crore.

The promoters holding in the company stood at 92.50% while Institutions and Non-Institutions held 1.46% and 6.04% respectively.  

The government is planning to divest 12.5% stake in Rashtriya Chemicals & Fertilizers (RCF) to comply with the minimum public shareholding norms as per SEBI. In this regard, cabinet committee on economic affairs (CCEA) is likely to meet on December 22, 2012 to take a decision on the same.

At present, the government holds 92.50% stake in the company and would opt for offer sale route to raise funds.

RCF is one of the leading producers of fertilizers in India. Sujala, Suphala 15:15:15, Suphala 20:20:0, Ujjwala, Microla and Biola are its major fertilizer brands.


Related Rashtriya Chemicals & Fertilizers Ltd. Links:

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SEBI Registered: Investment Adviser - INA000013323