Coromandel International soars on inking pact with IRRI to promote improved rice research technologies

29 Apr 2013

Coromandel International is currently trading at Rs. 193.55, up by 9.30 points or 5.05% from its previous closing of Rs. 184.25 on the BSE.

The scrip opened at Rs. 184.00 and has touched a high and low of Rs. 194.70 and Rs. 184.00 respectively. So far 14291 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 304.80 on 03-Sep-2012 and a 52 week low of Rs. 180.00 on 12-Apr-2013.

Last one week high and low of the scrip stood at Rs. 198.90 and Rs. 181.15 respectively. The current market cap of the company is Rs. 5429.05 crore.

The promoters holding in the company stood at 63.82% while Institutions and Non-Institutions held 13.81% and 22.37% respectively.’

In a bid to promote and distribute improved rice research technologies in India, Coromandel International has entered into Memorandum of Understanding (MoU) with International Rice Research Institute (IRRI). The partnership will also help in improving all aspects of rice cultivation comprising seed quality, nutrient and crop management, water management, farm machinery and post-harvest processing. The tie-up will also develop new rice varieties and rice crop management techniques to help farmers improve the yield and quality of their rice in an environmentally-sustainable way.

Coromandel International, a part of the $3.8 billion-Murugappa Group, is engaged in manufacturing of fertilizers, specialty nutrients, and crop protection. It has a strong foothold in Andhra Pradesh, Tamil Nadu, Karnataka, Orissa, Chhattisgarh and West Bengal that together account for over 50% of the country's total rice production.

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Coromandel Interntl. Share Price

799.45 -11.10 (-1.37%) Sep 21, 18:03
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Company Name CMP
Coromandel Interntl. 799.45
National Fertilizers 33.80
Chambal Fert & Chem 152.40
RCF 44.90
GSFC 58.20
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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