RCF soars on getting CCEA’s approval for divestment plan

26 Dec 2012

Rashtriya Chemicals & Fertilizers is currently trading at Rs. 57.80, up by 2.15 points or 3.86% from its previous closing of Rs. 55.65 on the BSE.

The scrip opened at Rs. 57.00 and has touched a high and low of Rs. 59.00 and Rs. 56.10 respectively. So far 835766 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. 44.30 on 29-Dec-2011.

Last one week high and low of the scrip stood at Rs. 59.75 and Rs. 55.00 respectively. The current market cap of the company is Rs. 3194.27 crore.

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

Rashtriya Chemicals and Fertilizers (RCF) has received the Cabinet Committee on Economic Affairs’ (CCEA) approval for divestment of 12.5% equity of the Government’s holdings. At present, the Government holds 92.5% in the fertiliser company.

The offloading of 12.5% equity will help the company to meet the minimum public shareholding of 10%, as prescribed by SEBI and needs to be completed by August 2013.

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.

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RCF Share Price

82.75 -1.70 (-2.01%) May 14, 18:01
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