Fertiliser stocks go up as raw material price soars

By: |
Mumbai | Published: December 20, 2016 6:19:24 AM

Stock prices for Gujarat state fertilizers and chemicals (GSFC) and Fertilisers and Chemicals Travancore (FACT) went up on Monday by 8.9% and 4.3%, respectively, as the price of caprolactam hit two-year high at R161, 118 per metric tonne. The BSE Sensex closed at 26,374.70, down 0.4%.

GSFC started Monday’s trading at Rs 88.35 and shot upto Rs 96.6, up by over 9%, while on the other hand FACT opened at R23.4 which went up to Rs 25.0, a gain of about 7%. GSFC and FACT are the only two Indian companies that manufacture caprolactam. (Reuters)GSFC started Monday’s trading at Rs 88.35 and shot upto Rs 96.6, up by over 9%, while on the other hand FACT opened at R23.4 which went up to Rs 25.0, a gain of about 7%. GSFC and FACT are the only two Indian companies that manufacture caprolactam. (Reuters)

Stock prices for Gujarat state fertilizers and chemicals (GSFC) and Fertilisers and Chemicals Travancore (FACT) went up on Monday by 8.9% and 4.3%, respectively, as the price of caprolactam hit two-year high at Rs 161, 118 per metric tonne. The BSE Sensex closed at 26,374.70, down 0.4%.

GSFC started Monday’s trading at Rs 88.35 and shot upto Rs 96.6, up by over 9%, while on the other hand FACT opened at R23.4 which went up to Rs 25.0, a gain of about 7%. GSFC and FACT are the only two Indian companies that manufacture caprolactam.

Caprolactam prices rose to R161, 118 per metric tonne on December 19, 2016, compared with R142,707 on Dec 19, 2014.

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Caprolactam is the principal raw material for Nylon 6, GSFC and FACT are engaged in the development of crop nutrition solutions. GSFC operates through two business segments-Fertilizer Products and Industrial Products, while FACT primarily manufactures fertilizer and petrochemicals.

GSFC has two caprolactam plants with rated capacities of 20,000 tonnes per annum and 50,000 tonnes per annum, while Travancore-based FACT has a capacity of 50,000 tonnes.

GSFC reported a net profit of R125.01 for quarter ended September, down by 12% from R142.64, for the corresponding quarter last year, whereas, for the quarter ended September 30, FACT registered a loss of R136.37.

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