Coromandel International surges on getting nod to set up Phosphoric Acid and Sulphuric Acid Plants at Kakinada
Coromandel International is currently trading at Rs. 1067.70, up by 17.40 points or 1.66% from its previous closing of Rs. 1050.30 on the BSE.
The scrip opened at Rs. 1059.85 and has touched a high and low of Rs. 1076.55 and Rs. 1050.25 respectively. So far 15299 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1287.95 on 18-Dec-2023 and a 52 week low of Rs. 842.00 on 21-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1154.55 and Rs. 1044.40 respectively. The current market cap of the company is Rs. 30921.18 crore.
The promoters holding in the company stood at 57.33%, while Institutions and Non-Institutions held 27.93% and 14.74% respectively.
Coromandel International has received approval for setting of new Phosphoric Acid and Sulphuric Acid Plants at Kakinada, Andhra Pradesh, for reduce dependence on imports and make Kakinada an integrated facility. The proposed investment is in line with the company’s long-term objectives to secure key raw materials for its fertiliser production. The Investment required for the same is Rs 1,029 crore. The Board of Directors at their meeting held on January 30, 2024, has approved the same.
Coromandel International is amongst India's pioneers and leading Agri solutions provider, offering diverse products and services across the farming value chain.
