Shares in Fertilizers and Chemicals Travancore (FACT) has surged over 7% to Rs 43.10 on reports that the government will provide about Rs 990 crore revival package for the ailing PSU company.
The package includes Rs 300 crore as interest free loan, Rs 150 crore as grant, Rs 282 crore will be waived off as outstanding loans and Rs 160 crore will be waived as pending interest amount, the PTI report suggests quoting Fertilizers Minister Ananth Kumar.
The stock opened at Rs 41.95 and hit a high of Rs 43.40 on National Stock Exchange. A combined around 150,000 shares changed hands on the counter in early morning deals on NSE and BSE.
The package includes Rs 300 crore as interest free loan, Rs 150 crore as grant, Rs 282 crore will be waived off as outstanding loans and Rs 160 crore will be waived as pending interest amount, the PTI report suggests quoting Fertilizers Minister Ananth Kumar.
The stock opened at Rs 41.95 and hit a high of Rs 43.40 on National Stock Exchange. A combined around 150,000 shares changed hands on the counter in early morning deals on NSE and BSE.