RCF drops after weak Q1 results

Rashtriya Chemicals and Fertilizers lost 4.63% to Rs 47.40 at 11:43 IST on BSE after net profit dropped 65.08% to Rs 19.59 crore on 15.47% fall in total income to Rs 1557.73 crore in Q1 June 2016 over Q1 June 2015.

The Q1 result was announced after market hours yesterday, 29 August 2016.

Meanwhile, the S&P BSE Sensex was up 211.39 points, or 0.76%, to 28,114.05

On BSE, so far 2.93 lakh shares were traded in the counter, compared with average daily volume of 3.21 lakh shares in the past one quarter. The stock hit a high of Rs 48 and a low of Rs 47.15 so far during the day. The stock hit a 52-week high of Rs 53.75 on 7 July 2016. The stock hit a 52-week low of Rs 35.25 on 12 February 2016. The stock had outperformed the market over the past 30 days till 29 August 2016, rising 0.51% compared with 0.53% fall in the Sensex. The scrip also outperformed the market in past one quarter, gaining 14.91% as against Sensex's 4.63% rise.

The small-cap company has an equity capital of Rs 551.69 crore. Face value per share is Rs 10.

Rashtriya Chemicals and Fertilizers (RCF) said that the company's board of directors has approved the issue of secured non convertible debentures aggregating Rs 1000 crore on private placement basis.

State-run RCF is one of the leading producers of urea in India. The Government of India (GoI) currently holds 80% stake in RCF (as per the shareholding pattern as on 30 June 2016).

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