Fertiliser stocks dominated the gainers in BSE's A group shares today, 20 August 2007 on media reports that the government, for the first time, had issued fertiliser bonds worth Rs 7500 crore to part-finance the additional subsidy burden on fertiliser companies arising from rising price of imported feedstock and fertilisers.
Chambal Fertilisers & Chemicals (CFCL) surged 19.92% to Rs 44.85 and it topped gainers in BSE's A group shares. On Friday, 17 August 2007, CFCL said its Singapore-based subsidiary Chambal Biotech sold its entire holding in Australia's Technico to Russell Credit, Kolkata. Post- transaction, Technico has ceased to be a subsidiary of the company.
Rashtriya Chemicals & Fertilisers (RCF), the second biggest gainer among A group shares, spurted 19.04% to Rs 53.15. RCF's net profit rose 3.35% to Rs 7.71 crore on 45.29% increase in sales to Rs 956.39 crore in Q1 June 2007 over Q1 June 2006. The result was announced on 25 July 2007.
National Fertilizers moved up 13.39% to Rs 36 and it was third biggest gainer in A group.
BSE A group's fourth biggest gainer Gujarat Narmada Valley Fertilisers Company (GNFC) flared up 13.23% to Rs 135.20. GNFC's net profit jumped 61.08% to Rs 75.79 crore on 33.03% increase in sales to Rs 573.64 crore in Q1 June 2007 over Q1 June 2006. The result was announced on 14 July 2007.
Fertilisers & Chemicals Travancore grew 12.53% to Rs 26.05 and was the fifth biggest gainer in A group.
0 comments:
Post a Comment