Gujarat Narmada Valley Fertilizers & Chemicals surges on record Dec-qtr profit

Gujarat Narmada Valley Fertilizers & Chemicals

07/02/2022 05:05

** Shares of fertilizers and chemicals maker  GNFC.NS  jump
as much as 14.99% to 523.45 rupees, highest since Jan 2018
    ** Logs record quarterly consolidated net profit of 5.41 bln
rupees ($72.41 million), up 123% from a year ago  urn:newsml:reuters.com:*:nFWN2UE1OJ
    ** Dec-qtr rev from ops rises nearly 58% to 23.80 bln rupees
    ** Says Co is setting up additional capacities in ammonia,
weak nitric acid and ammonium nitrate at a cost of around 13 bln
rupees 
    ** Stock on track to see its best session since Nov 2018
    ** Around 5.4 mln shares change hands by 0440 GMT, vs 30-day
avg of 1.6 mln shares
    ** As of last close, stock up 3.3% so far this year 
    
    
($1 = 74.3050 Indian rupees)

 (Reporting by Chandini Monnappa in Bengaluru)
 ((Chandini.M@thomsonreuters.com; 910867497919;))