GSFC hits record high, up 9% on heavy volumes and stable business outlook

The higher stock levels, coupled with likely momentum to be achieved in fresh production/imports, FY24 is likely to witness a situation of comfortable availabilities in the fertilizer sector

Shares of Gujarat State Fertilizers & Chemicals Limited (GSFC) rallied 9 per cent on the BSE to a record high of Rs 204.50 in Monday’s intra-day trade amid heavy volumes. In the past two trading days, the stock of the fertiliser company has surged 17 per cent on a stable business outlook.

The stock surpassed its previous high of Rs 193.40 touched on September 6, 2023. The average trading volumes on the counter jumped nearly 10-fold today. A combined 18.8 million equity shares, representing 4.7 per cent of total equity of GSFC, changed hands on the NSE and BSE