India's Zuari Agro jumps after sale of plant to Paradeep Phosphates

Zuari Agro Chemicals

01/06/2022 06:59

** Shares of fertilizer manufacturer Zuari Agro Chemicals
 ZUAR.NS  jump as much as 13.7% to 157.4 rupees
    ** Co says https://www.bseindia.com/xml-data/corpfiling/AttachLive/1a0912d6-1eee-4fc9-8f9d-8b22490581bd.pdf
 it has completed the sale of its Goa fertilizer plant to
Paradeep Phosphates  PRAO.BO  on slump sale basis   
    ** Co had earlier this year agreed https://www.bseindia.com/xml-data/corpfiling/AttachHis/28190e9e-cb6a-4e87-b963-42d6f7c6c3d7.pdf
 to sell plant as a "going concern" for enterprise value of $280
mln
    ** ZUAR sees biggest intraday pct gain since April 18
    ** More than 314,000 shares traded, 1.2 times their 30-day
moving avg 
    ** Stock up 15.5% this year, as of last close 
    

 (Reporting by Tanvi Mehta in Bengaluru)
 ((tanvi.mehta@thomsonreuters.com; https://twitter.com/TanviMehta710;))