Navin Fluorine inches up after approval for sale of unit

Navin Fluorine International rose 0.92% to Rs 3,058.05 at 09:45 IST on BSE after the company's shareholders approved sale of unit located at Dahej in Gujarat.

The announcement was made after market hours yesterday, 6 July 2017.

Meanwhile, the S&P BSE Sensex was down 36.29 points or 0.12% at 31,333.05

On BSE, so far 429 shares were traded in the counter as against average daily volume of 12,166 shares in the past one quarter. The stock hit a high of Rs 3,087 and a low of Rs 3,050.10 so far during the day. The stock had hit a 52-week high of Rs 3,250 on 5 April 2017. The stock had hit a 52-week low of Rs 1,968 on 7 July 2016.

The small-cap company has equity capital of Rs 9.85 crore. Face value per share is Rs 10.

It may be recalled that Navin Fluorine International's board of directors at its meeting held on 28 April 2017 decided that the facility relating to manufacture and sale of specialty fluorochemicals set up at Dahej will be transferred to the joint venture company Convergence Chemicals.

Navin Fluorine International's net profit fell 6.73% to Rs 29.38 crore on 5.79% rise in net sales to Rs 200.53 crore in Q4 March 2017 over Q4 March 2016.

Navin Fluorine International is the largest integrated specialty fluorochemical company in India.

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