Gujarat State Fertilizers moves up on the BSE
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Gujarat State Fertilizers is currently trading at Rs. 162.00, up by 4.80 points or 3.05% from its previous closing of Rs. 157.20 on the BSE.
The scrip opened at Rs. 156.10 and has touched a high and low of Rs. 163.45 and Rs. 156.10 respectively. So far 189695 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 198.70 on 05-Apr-2022 and a 52 week low of Rs. 95.05 on 24-Aug-2021.
Last one week high and low of the scrip stood at Rs. 168.20 and Rs. 140.10 respectively. The current market cap of the company is Rs. 6471.28 crore.
The promoters holding in the company stood at 37.84%, while Institutions and Non-Institutions held 32.55% and 29.61% respectively.
Gujarat State Fertilizers & Chemicals’ (GSFC) board is all set to invest in the rights issue of Karnalyte Resources Inc. upto an amount not exceeding CAD 3.25 million, equivalent to Rs 20 crore. Karnalyte Resources Inc. (KRN) is an advanced potash development/ mining company situated in Saskatchewan, Canada and listed on Toronto Stock Exchange. GSFC has made a strategic investment (presently holding 38.73%) in the project in 2013 to meet its potash requirements.
Karnalyte has raised the Rights Issue for 14,058,282 shares (ratio of 3:1 for existing shareholders) at a price of CAD 0.35 per share. The rights issue opened on June 28, 2022 and the offering shall expire on July 29, 2022. The proposed rights issue is with an intent to part finance its immediate funding requirements of CAD 4.9 million.
Gujarat State Fertilizers & Chemicals is engaged in the manufacturing of fertilizers and industrial products. The company has created more than 24 brands of fertilizers, petrochemicals, chemicals, industrial gases, plastics, fibers and other products.
