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Zuari Agro Chemicals slips on plant closure

Capital Market 

Zuari Agro Chemicals was down 2.80% to Rs 138.85 at 10:48 IST on the BSE after the company said that its urea/ammonia plants have been shut down due to tube leak of the PG-reboiler in the CO2 removal section of the ammonia plant.

The company said it will notify once the plants resume operations. The announcement was made on Saturday, 6 July 2019.

Meanwhile, the S&P BSE Sensex was down by 486.87 points, or 1.23% to 39,026.52.

On the BSE, 3013 shares were traded in the counter so far compared with average daily volumes of 7513 shares in the past two weeks. The stock had hit a high of Rs 141.40 and a low of Rs 138.05 so far during the day. It hit a 52-week high of Rs 369 on 27 July 2018 and a 52-week low of Rs 136.50 on 16 May 2019.

On a consolidated basis, Zuari Agro Chemicals reported net loss of Rs 145.14 crore in Q4 March 2019 compared with net profit of Rs 4.44 crore in Q4 March 2018. Net sales rose 17.1% to Rs 1999.64 crore in Q4 March 2019 over Q4 March 2018.

Zuari Agro Chemicals is an agricultural solution provider.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 08 2019. 10:50 IST