National Fertilizer gains 4% on signing MoA with RFCL

According to an agreement, National Fertilizer will market RFCL’s urea under its brand "Kisan".

Aug 30, 2018 07:08 IST India Infoline News Service

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Shares of National Fertilizer (NFL) were trading 4% up in the afternoon session Thursday after the company inked a Memorandum of Agreement (MoA) with Ramagundam Fertilizers & Chemicals Limited (RFCL) to market RFCL's Products.

According to an agreement, National Fertilizer will market RFCL’s products including 12.71LMT urea, which will be produced by RFCL's Plant at Ramagundam. The company will market urea under its brand "Kisan".

RFCL, a Joint venture company promoted by NFL, ElL, and Fertilizer Corporation of India (FCIL), is likely to start commercial production at Ramagundam  plan the year 2019.

National Fertilizer share is currently at Rs49.95, up by Rs2.3 or 4.83% from its previous closing of Rs47.65 on the BSE.

The scrip has opened at Rs48. It has touched a high and low of Rs50.20 and Rs46.80 respectively. So far, 11,97,882 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs2,337.61cr.

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