Nagarjuna Fertilizers denies news regarding stake sale

With reference to the news item appearing in a leading financial daily titled "Nagarjuna gains as RIL seen circling it", Nagarjuna Fertilizers & Chemicals Ltd has clarified that there is no truth in the news item and the Promoters of the Company has no intention of dis-investing their shareholding in the Company and accordingly the question of 'buyout' does not arise.

The Company further announced that it do not have control on the reports appearing in the newspapers which do not originate from the Company and it has no means of stopping publication of the same.

The Company always maintains high level of corporate disclosure and will communicate information to the Stock Exchanges and the Investors based on factual information, so as to guide the Investors with accurate and correct information.

The stock closed the day at Rs.32.50, up by Rs.4.95 or 17.97%. The stock hit an intraday high of Rs.33.10 and low of Rs.25. The total traded quantity was 42055935 compared to 2 week average of 12484508.

Source : Equity Bulls

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