President of India-backed multibagger fertilizers company awarding an order worth Rs 5,14,55,58,959.03 to Topsoe A/s
The stock gave multibagger returns of over 130 per cent from its 52-week low of Rs 105.40 per share.
Rashtriya Chemicals & Fertilizers Ltd (RCF) has approved awarding a contract to Topsoe A/s, an international entity, for the procurement of a basic engineering design package (BEDP), proprietary equipment and catalyst. This project aims to revamp RCF's Thai Ammonia Plant to reduce its specific energy consumption. The contract value is Rs 5,14,55,58,959.03 (including taxes and duties, landing charges) at an exchange rate of Euro 1 = Rs 90.81. The project is expected to take 36 months to complete.
Rashtriya Chemicals & Fertilizers Ltd (RCF), a major Indian public sector company under the Ministry of Chemicals and Fertilizers, manufactures and sells a wide range of fertilizers and industrial chemicals. RCF operates through two main divisions: Industrial and Fertilizers. The Industrial division produces various chemicals like ammonia, nitric acid and sulfuric acid at its facilities in Thal and Trombay. The Fertilizers division makes urea, complex fertilizers, bio-fertilizers, and micronutrients under its brand names Ujwala, Suphala, Biola and Microla respectively. RCF also trades in imported fertilizers to supplement its domestic production. Notably, RCF achieved the prestigious "Navratna" status in August 2023, becoming the first fertilizer company in India to receive this recognition from the government.
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The company has a market cap of over Rs 12,000 crore and has been maintaining a healthy dividend payout of 30.3 per cent. In its Quarterly Results (Q4FY24) and annual results (FY24), the company reported positive numbers. As of March 2024, the President of India owns a 75 per cent stake in the company.
Today, shares of Rashtriya Chemicals & Fertilizers Ltd gained 10.11 per cent to an intraday high of Rs 245 per share from its previous closing of Rs 222.50. The stock also made a fresh new 52-week high is Rs 245 and its 52-week low is Rs 105.40. The stock gave multibagger returns of over 130 per cent from its 52-week low of Rs 105.40 per share and investors should keep an eye on this fertilizers stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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