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Zuari Agrochemicals to seel fertilizer plant to Paradeep Phosphates for $280 million
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The board of directors of Zuari Agrochemicals Ltd(ZACL), at its meeting held on Tuesday approved the sale of its fertilizer plant at Goa and the associated businesses by way of a slump sale to Paradeep Phosphates Ltd. (PPL) for a lump sum consideration (enterprise value) of $280 million.
The Goa plant of ZACL is engaged in the manufacture, distribution, imports and sale of Urea, DAP and various grades of NPK fertilizers under the “Jai kisaan” brand, with a total installed capacity of 1.2million MT per annum.
The week that was: RVNL, Venky’s India among 10 stocks that buzzed the most
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Last Updated: Jan 10, 2021, 03:24 PM IST
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Benchmark indices Sensex and Nifty surged to record highs last week.
NEW DELHI: Benchmark indices are amid a secular rally with most of them hitting fresh record highs every day. The last week was no different as the market rose further, backed by FII money.
Nearly 400 stocks in the BSE 500 index gained last week, while about 100 slipped amid general profit-booking after rallying too much too soon.
“This week witnessed the markets reaching fresh record highs on a daily basis which was fuelled by positive global cues, optimism on vaccine rollout, healthy business figures reported by banking and auto companies and hopes of strong quarterly outcomes. Broader markets outperformed benchmark indices contributing to the rally,” Vinod Nair, Head of Research at Geojit Financial Services.