 "Zuari Agro surges on availing unsecured deposit from promoter")
Zuari Agro Chemicals has surged 8% to Rs 189 on the BSE after the fertiliser company has received Rs 100 crore as unsecured deposit from promoter Adventz Finance towards meeting its working capital requirements.
“The company has availed an unsecured Inter Corporate Deposit (ICD) of Rs 100 crore from Adventz Finance Private Limited, a promoter of the company, for a period of 12 months,” Zuari Agro Chemicals said in a BSE filing.
The company has three fertiliser plants in Goa -- one urea and two complex fertiliser units.
Zuari Agro Chemicals had reported a consolidated net loss of Rs 91 crore for the financial year 2015-16 (FY16) against profit of Rs 9 crore in FY15.
At 09:41 AM, the stock was up 6% at Rs 186 on the BSE. A combined 48,175 shares changed hands on the counter on the BSE and NSE.
“The company has availed an unsecured Inter Corporate Deposit (ICD) of Rs 100 crore from Adventz Finance Private Limited, a promoter of the company, for a period of 12 months,” Zuari Agro Chemicals said in a BSE filing.
The company has three fertiliser plants in Goa -- one urea and two complex fertiliser units.
Zuari Agro Chemicals had reported a consolidated net loss of Rs 91 crore for the financial year 2015-16 (FY16) against profit of Rs 9 crore in FY15.
At 09:41 AM, the stock was up 6% at Rs 186 on the BSE. A combined 48,175 shares changed hands on the counter on the BSE and NSE.