ABNL drops after temporary shutdown of a fertilizer plant in UP

Aditya Birla Nuvo fell 0.48% to Rs 1,721 at 14:06 IST on BSE after the company said that its ammonia/urea plant at Jagdishpur in Uttar Pradesh have been shut down from today, 27 February 2015.

Meanwhile, the S&P BSE Sensex was up 371.38 points or 1.29% at 29,118.03.

On BSE, so far 4,045 shares were traded in the counter as against average daily volume of 14,626 shares in the past one quarter.

The stock was volatile. The stock fell as much as 0.88% at the day's low of Rs 1,714 so far during the day. The stock rose as much as 0.81% at the day's high of Rs 1,743.30 so far during the day. The stock had hit a 52-week low of Rs 1,030 on 21 March 2014. The stock had hit a 52-week high of Rs 1,912.85 on 13 November 2014.

The stock had underperformed the market over the past one month till 26 February 2015, sliding 5.25% compared with Sensex's 1.82% fall. The scrip had also underperformed the market in past one quarter, declining 0.82% as against Sensex's 1.27% rise.

The large-cap firm has equity capital of Rs 130.14 crore. Face value per share is Rs 10.

Aditya Birla Nuvo (ABNL) said that its ammonia/urea plant at Jagdishpur in Uttar Pradesh have been shut down from today, 27 February 2015. The shutdown of the plant is necessitated due to policy of the Government of India for production beyond 100% quantity as permissible under the pricing mechanism, during the financial year 2014-15, ABNL said. The company will carry out various maintenance jobs during the shutdown period. The plant will remain under shut down till 1st week of April 2015, ABNL added.

On consolidated basis, ABNL's net profit rose 6.6% to Rs 368.14 crore on 1.1% growth in net sales to Rs 6539.35 crore in Q3 December 2014 over Q3 December 2013.

ABNL is a conglomerate and is a part of the Aditya Birla Group. ABNL is present across Financial Services, Telecom, Fashion and Lifestyle, IT-ITeS and Manufacturing businesses.

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