Shares of Fertilizers and Chemicals Travancore Ltd today surged over 6 per cent following reports that the government will provide about Rs 990 crore revival package for the ailing central PSU.
The company scrip soared 7.59 per cent to Rs 43.20 in intra-day trade at the BSE. It finally ended at Rs 42.30, up 5.35 per cent from its previous close.
At the NSE, it settled 6.23 per cent higher at Rs 42.65.
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The government will provide about Rs 990 crore revival package for the ailing central PSU FACT, Fertilizers Minister Ananth Kumar had said yesterday.
"A note has already been prepared for about Rs 990 crore of revival package for the PSU," Kumar had said.
The package includes Rs 300 crore as interest free loan, Rs 150 crore as grant, Rs 282 crore will be waived off as outstanding loans and Rs 160 crore will be waived as pending interest amount.
