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Zuari Agro Chemicals surges on getting nod to restructure fertilizer business

Zuari Agro Chemicals is currently trading at Rs. 96.10, up by 0.80 points or 0.84% from its previous closing of Rs. 95.30 on the BSE.

The scrip opened at Rs. 95.00 and has touched a high and low of Rs. 102.00 and Rs. 92.00 respectively. So far 55615 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 256.30 on 01-Nov-2018 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. 102.00 and Rs. 88.00 respectively. The current market cap of the company is Rs. 412.59 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’ board has approved the proposal to restructure its fertilizer business with a view to monetize and consolidate all its bulk fertilizer operations. Additionally, it has decided to incorporate another company, under the name of ‘Zuari FarmHub’, which will operate its retail, speciality nutrients and the proposed FarmHub business, for which the company is also seeking investments from Strategic and /or Financial Investor’s. A Committee of Board of Directors has been formed to achieve implementation of plans for the restructuring and monetization activity.

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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