State-owned National Fertilisers Ltd (NFL) today soared over 12 per cent amid reports that the company is getting Rs 3,850 crore from 13 banks for urea expansion.
Shares of the fertilisers and industrial chemicals company jumped 12.05 per cent to touch one-month high of Rs 132.90 on the Bombay Stock Exchange.
On a similar note, the stock climbed to Rs 134, reflecting a gain of 13.03 per cent over the previous close, on the National Stock Exchange.
The rise in the stock was significant because the broader gauge Sensex was trading in a negative terrain with a loss of 0.23 per cent at 18,366.49 points.
In terms of volume, about 32 lakh shares were traded on the bourses.
According to a media report, NFL is likely to get Rs 3,850 crore from 13 banks for the purpose of urea expansion.
The entire fertiliser pack was also trading strong in the weak market. Rashtriya Chemicals & Fertisers was quoting at Rs 86.90, up 4.38 per cent while Nagarjuna Fertilisers was up by 1.57 per cent to Rs 32.30. Chambal Fertlisers was also trading in positive terrain with a gain of 2.15 per cent.
