Gujarat State Fertilizers Ammonia IV plant shutdown

Gujarat State Fertilizers & Chemicals Ltd has announced that the Ammonia IV Plant of the Company at Baroda Unit was taken under forced shutdown due to disturbance in Reformer Unit of the plant. Vigorous efforts of restart of Ammonia IV Plant are underway. While this has affected the operations of some of the Fertilizers manufacturing plants, the plants manufacturing Industrial Products are operating normal with arrangements of Ammonia from outside. Other units of the Company located at Sikka, Kuwarda and Nandesari are operating normally.

The Company has taken a Mega Insurance Policy covering all risks including machinery breakdown and business interruption.

The stock closed the day at Rs.170.70, up by Rs.1.95 or 1.16%. The stock hit an intraday high of Rs.172 and low of Rs.167.05. The total traded quantity was 32978 compared to 2 week average of 58114.

Source : Equity Bulls

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