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Zuari Agro Chemicals strengthens on signing MoU with OCP Group

 

Zuari Agro Chemicals is currently trading at Rs. 95.50, up by 7.25 points or 8.22% from its previous closing of Rs. 88.25 on the BSE.

The scrip opened at Rs. 88.05 and has touched a high and low of Rs. 100.00 and Rs. 87.70 respectively. So far 37676 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 253.00 on 02-Jan-2019 and a 52 week low of Rs. 83.65 on 09-Oct-2019.

Last one week high and low of the scrip stood at Rs. 100.00 and Rs. 87.00 respectively. The current market cap of the company is Rs. 405.86 crore.

The promoters holding in the company stood at 65.04%, while Institutions and Non-Institutions held 8.40% and 26.56% respectively.

Zuari Agro Chemicals has signed a Memorandum of Understanding (MoU) with OCP Group in connection with such corporate reorganisation and leveraging on their existing partnerships. This will entail a consolidation exercise including all fertilizer entities of Zuari’s.

The company also entered into another MoU with OCP Group for a proposed strategic investment in Zuari FarmHub (ZFHL). ZFHL will take over Zuari’s existing Retail, Specialty Nutrients, Crop Care, Seeds activities, as well as the manufacturing operations of Baramati Specialty Nutrients plant, and will also be spearheading the company’s plans to set up Hubs across the country.

Zuari Agro Chemicals is one of the leading fertilizer conglomerates in India. The company produces high-quality complex fertilizers of various grades along with seeds, pesticides, micro nutrients, and specialty fertilizers.

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