Zuari Agro Chemicals jumped 8.61% to Rs 109.70 at 11:32 IST on BSE after the company said that it has resumed production of urea/ammonia.
The announcement was made after market hours on Wednesday, 5 June 2013.
Meanwhile, the S&P BSE Sensex was down 74.85 points, or 0.38%, to 19,493.37.
On BSE, 19,000 shares were traded in the counter as against an average daily volume of 10,325 shares in the past one quarter.
The stock hit a high of Rs 113 and a low of Rs 105 so far during the day. The stock had hit a record high of Rs 394 on 27 November 2012. The stock had hit a record low of Rs 95.10 on 5 June 2013.
The stock had underperformed the market over the past one month till 5 June 2013, slumping 31.69% compared with the Sensex's 0.04% fall. The scrip had also underperformed the market in past one quarter, falling 45.41% as against Sensex's 2.22% rise.
The small-cap company has an equity capital of Rs 42.06 crore. Face value per share is Rs 10.
On 25 March 2013, Zuari Agro Chemicals had announced shutting its urea/ammonia plants from 24 March 2013 for a scheduled annual maintenance. Later on 23 May 2013, the company informed that although the maintenance work was completed, the plants could not resume operations due to non-availability of water from the Government of Goa.
Zuari Agro Chemicals reported a net loss of Rs 6.65 crore in Q4 March 2013 compared with a net profit of Rs 56.56 crore in Q4 March 2012. Net sales fell 59.5% to Rs 1031.79 crore in Q4 March 2013 over Q4 March 2012.
Zuari Agro Chemicals produces high-quality complex fertilizers of various grades along with seeds, pesticides, micro nutrients, and specialty fertilizers. It has a manufacturing facility at Goa, with four plants, dedicated to manufacturing urea, DAP and NPK based fertilizers.
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