GNFC tumbles on shutting down Dahej plant on sudden leakage

16 Jan 2018 Evaluate

Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) is currently trading at Rs. 495.00, down by 45.55 points or 8.43% from its previous closing of Rs. 540.55 on the BSE.

The scrip opened at Rs. 542.00 and has touched a high and low of Rs. 547.00 and Rs. 484.05 respectively. So far 7,23,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 548.50 on 24-Oct-2017 and a 52 week low of Rs. 236.40 on 02-Feb-2017.

Last one week high and low of the scrip stood at Rs. 547.00 and Rs. 469.85 respectively. The current market cap of the company is Rs. 7,697.00 crore.

The promoters holding in the company stood at 41.21%, while Institutions and Non-Institutions held 24.82% and 33.97% respectively.

GNFC has shut down Dahej plant on January 15, 2018, as there has been a sudden leakage at TDI-II Plant. Due to safety measures already put in place by the Company over a period of time, neither there is any property damage nor any loss of life.

However, as a matter of abundant precaution, Management has decided to close the plant indefinitely till the root cause is thoroughly analysed, reviewed and necessary further safety measures to be taken are fully evaluated in addition to current safety precautions.

GNFC believes in the principle of 'Safety First' and hence, this decision to close TDI-II Plant indefinitely is taken till the process of necessary preparations, putting in place further checks & balances and thorough evaluation is over.

Gujarat Narmada Valley Fertilizers & Chemicals is a joint sector enterprise promoted by the Government of Gujarat and the Gujarat State Fertilizers & Chemicals (GSFC). It was set up in Bharuch, Gujarat in 1976. Located at Bharuch in an extremely prosperous industrial belt, GNFC draws on the resources of the natural wealth of the land as well as the industrially rich reserves of the area.


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