 "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.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%