Zuari Agro slips after closure of NPK plant

Zuari Agro Chemicals fell 2.11% to Rs 88.10 after the company said that its NPK plant has been shut down due to non availability of raw material.

NPK stands for "nitrogen, phosphorus, and potassium," the three nutrients that compose complete fertilizers.

The company stated that it will notify once plant resumes its operations. The announcement was made after market hours yesterday, 16 October 2019.

Meanwhile, the S&P BSE Sensex was up 19 points or 0.05% to 38,618.02.

On the BSE, 21,587 shares were traded in the counter so far compared with average daily volumes of 8,131 shares in the past two weeks. The stock hit an intraday high of Rs 88.95 and an intraday low of Rs 86.25 so far during the day.

The stock hit a 52-week high of Rs 258.95 on 16 October 2018. The stock hit a 52-week low of Rs 83.65 on 9 October 2019.

On a consolidated basis, Zuari Agro Chemicals reported a net loss of Rs 123.08 crore in Q1 June 2019 compared with a net loss of Rs 6.15 crore in Q1 June 2018. Net sales declined 6.3% to Rs 1,873.77 crore Q1 June 2019 over Q1 June 2018.

Zuari Agro Chemicals is engaged in the manufacture, sale and trading of fertilizers and seeds. The chemical firm is also an importer of fertilizers and farm nutrients. It produces fertilizers of various grades, along with seeds, pesticides, micro nutrients and specialty fertilizers.

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