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GNFC hit a record high

Oct 4th, 2017 4:38 pm | By | Category: LATEST NEWS

Dr Rajiv Kumar Gupta, Managing Director, (GNFC)

Dr Rajiv Kumar Gupta, Managing Director, (GNFC)

Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), Gujarat State Fertilizers & Chemicals (GSFC) of which Dr. R K Gupta is CMD, GNFC hit a record high of Rs 359, up 11% in intra-day trade, extending Tuesday’s 7% rally on the BSE. The trading volumes on the counter jumped more than four-fold with a combined 5.79 million shares changed hands on the BSE and NSE so far.

The rating agency CRISIL last week assigned its ‘CRISIL A+’ rating to the commercial paper programme of GNFC.

In the industrial chemicals segment, GNFC primarily produces toluene di-isocyanate (TDI), aniline, ammonium nitrate, formic acid, acetic acid, and nitric acid, and has a healthy market position. It also enjoys market leadership position in TDI chemical, as the sole producer in India and South East Asia.

Q1 financials of 17 fertilizer companies there has been a 13% jump in the net profit margins of these companies on a q-o-q basis, the rating agency said in fertilizers sector update for Q1-FY18.

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