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National Fertilizers shares rebound, rise over 5% on record fertilizer sales

BusinessToday.In     October 4, 2019

National Fertilizers Ltd stock price bounced back 5% intraday on Thursday after the state-owned company announced that it recorded record sales figures of fertilizers during Kharif season (April-September) of 2019.

"The company had registered 27 lakh MT sale of all fertilizers during Kharif 2019 (April-September) for the first time in its history," company's regulatory filing said.

The reported sales figures for April-September period are 25% higher than 21.62 lakh MT sales it recorded in the corresponding period last year.

The filing added that this has been achieved despite lower production of own urea at Vijaipur Unit by 1.22 lakh MT during June-July, 2019 as compared to that of the corresponding period of last year due to technical problems.

National Fertilizer stock had a trend reversal today and gained after 6 days of consecutive fall. The NFL stock opened at Rs 25.35, up 5.4% against the last closing price of Rs 24.05. Later the B group listed stock a the face value of Rs 10, the stock rose 5.8% to the intraday high of Rs 25.45 on the BSE.

The volume traded today, amounting to 9.25 lakh shares on both the bourses, has already crossed yesterday's total volume and also trades above the 5, 10, 30- day average volume traded on the stock.

NFL stock is trading a mere 3.46% away from its 52 week-low of Rs 23.7 recorded on BSE. The NFL share touched its 52-week high of Rs 40.90 on May 30, 2019, and a 52-week low of Rs 23.70 on 23 August 2019.

The National Fertilizer stock has witnessed 62% buying and 38% selling today.

By Rupa Burman Roy

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