Rashtriya Chemicals hits all time high on Rs 515 cr-order win; stock up 10%

The stock rose after the company announced that it has bagged an order worth Rs 514.55 crore

Rashtriya Chemicals stock hits all-time-high: Shares of Rashtriya Chemicals and Fertilizers zoomed as much as 10.11 per cent to hit an all time high of Rs 245 per share on Friday. 

The stock rose after the company announced that it has bagged an order worth Rs  5,14,55,58,959.03 crore. 

In an exchange filing, Rashtriya Chemical said, “We hereby inform that the Board of Directors of the Company at its meeting held today i.e. July 11, 2024 has accorded its approval for Placement of Purchase Order on Topsoe A/s for procurement of Basic Engineering Design Package (BEDP) and Supply of Proprietary Equipment and Catalyst for revamp of Ammonia Plant at RCF Thai for reduction in specific energy consumption.”

 

Under the order details, Rashtriya Chemicals will be responsible for the procurement of Basic Engineering Design Package (BEDP) and supply of proprietary equipment and catalyst for revamp of Ammonia plant at RCF Thai for reduction in specific energy consumption. 

The order needs to be executed within 36 months or 3 years. 

RCF, a fertiliser and chemical manufacturer in the public sector, was established in 1978, following the reorganisation of the former Fertiliser Corporation of India Ltd. into five separate entities. 

RCF operates two main units including one in Trombay, Mumbai, and another in Thal, Raigad district, located approximately 100 km from Mumbai. 

The company's diverse product portfolio includes Neem Urea, Complex Fertilisers, Bio-Fertilizers, Micro Nutrients, and 100% Water-soluble fertilisers. 

Additionally, RCF is known for manufacturing essential chemicals such as Ammonia, Methanol, Methylamine, Ammonium Nitrate, and others like Nitric Acid, Sulphuric Acid, and Sodium Nitrate.

The fertiliser brands "Ujjwala" (Urea) and "Suphala" (Complex fertiliser) produced by RCF enjoy high brand equity nationwide. These products are distributed extensively through RCF's network of dealers across the country.

The company's recent modernization efforts at its Trombay unit, including upgrades to its Ammonia-I, Nitric Acid, and Methanol plants, have enhanced operational sustainability, efficiency, and compliance with environmental standards. 

The market capitalisation of Rashtriya Chemicals is Rs 13,063.97 crore, according to Bombay Stock Exchange (BSE). 

The 52-week low of Rashtriya Chemicals stock is Rs 105.40 per share. 

At 11:11 AM, the shares were trading 5.62 per cent higher at Rs 235. In comparison, BSE Sensex was trading 0.97 per cent higher at 80,676.01 levels.