Gujarat State Fertilisers and Chemicals surges on calcium nitrate manufacturing plans

Gujarat State Fertilizers & Chemicals

06/10/2020 08:29

** Shares of Indian fertilizer and industrial chemical maker
 GSFC.NS  rise as much as 4.3% to 66.90 rupees, highest level
since Sept. 4
    ** If gains hold, stock on track to close in the black for 6
out of 7 sessions 
    ** Co late on Monday said https://www.bseindia.com/xml-data/corpfiling/AttachLive/b07f3e32-1de2-475c-a1cf-5a6b81032a83.pdf
 it was taking up manufacturing of calcium nitrate, which will
add 200 mln rupees to top line
    ** Plans to commence production with initial capacity of
about 10,000 Mtpa, expandable up to 15,000 Mtpa, co says 
    ** Despite session's gains, stock down ~6% YTD,
underperforming the 0.4% rise in peer Narmada Valley Fertilizers
& Chemicals's  GNFC.NS  stock 

 (Reporting by Vibhuti Sharma in Bengaluru)