Rashtriya Chemicals and Fertilizers shares gained more than 7% in early trade after its board of directors approved a purchase order with Larsen & Toubro Ltd for the development of a 1200 MTPD (DAP basis) complex fertilizer plant at its Thal facility.
The project is estimated to be valued at Rs 1,000.27 crore, excluding GST and will be executed on a lump-sum turn-key basis (LSTK). The plant’s construction timeframe is set for 27 months.
Rashtriya Chemicals and Fertilizers shares opened at Rs 176.46, peaking at Rs 185.31 before dipping to a low of Rs 175.12.
As of 10:02 am, Rashtriya Chemicals and Fertilizers shares were trading 7.16% higher at Rs 183.25 on the NSE.
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