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Nagarjuna Agrichem soars on plan to sell Wind Turbine Generator based power plants

30 Jul 2013

Nagarjuna Agrichem is currently trading at Rs. 4.16, up by 0.21 points or 5.32% from its previous closing of Rs. 3.95 on the BSE.

The scrip opened at Rs. 4.25 and has touched a high and low of Rs. 4.25 and Rs. 4.16 respectively. So far 1300 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 8.60 on 11-Sep-2012 and a 52 week low of Rs. 3.04 on 25-June-2013.

Last one week high and low of the scrip stood at Rs. 4.25 and Rs. 3.65 respectively. The current market cap of the company is Rs. 61.59 crore.

The promoters holding in the company stood at 74.81% while Non-Institutions held 25.19% stake in the company.

Nagarjuna Agrichem has received an approval to sell /transfer or otherwise dispose off for around Rs 30 crore, the whole of the company’s Wind Power Undertaking i.e., 3 nos. Wind Turbine Generator based power plants each having 2.1 M.W. installed capacity located at Tirunelveli District in state of Tamil Nadu. The company is taking this step as part of its strategy to consolidate its core business.

The board of director at its meeting held on July 29, 2013 has approved for the same.  The above is however subject to the approval of the shareholders of the company under Companies Act, 1956, through Postal Ballot process.

Nagarjuna Agrichem manufactures a comprehensive range of pesticide technicals, formulations and custom manufactured fine chemicals. Nagarjuna Agrichem's product profile includes those tested and certified by best GLP Certified Independent laboratories in Europe & USA. All the products conform to national and international specifications.

 

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