Shares of Rashtriya Chemicals and Fertilizers Ltd (RCF) surged around 10% on July 12, hitting a new record high of ₹244.9 on the National Stock Exchange (NSE). The rise followed a significant announcement from the company.
Major Order Approved
RCF’s Board of Directors approved a ₹515 crore purchase order for Topsoe A/S to obtain a Basic Engineering Design Package (BEDP) and supply proprietary equipment and catalyst. This order aims to upgrade the Ammonia Plant at RCF Thai, focusing on reducing energy consumption. The announcement, made in line with SEBI regulations, boosted investor confidence, driving up the stock price.
The order is expected to be completed within 36 months, according to the company’s regulatory filing.
About RCF
RCF is a public sector company specializing in fertilizers and chemicals. Established in 1978 after the reorganization of Fertilizer Corporation of India Ltd, it operates two main units: one in Trombay, Mumbai, and another in Thal, Raigad district, around 100 km from Mumbai.
RCF’s products include Neem Urea, Complex Fertilizers, Bio-Fertilizers, Micro Nutrients, and 100% Water-soluble fertilizers. The company also manufactures essential chemicals like Ammonia, Methanol, Methylamine, Ammonium Nitrate, Nitric Acid, Sulphuric Acid, and Sodium Nitrate.
Market Performance
At 11:39 am, RCF shares were trading around 6% higher at ₹233.38 on NSE. This year, the stock has surged around 40%, outperforming the benchmark Nifty’s 12% gain. Over the past year, RCF’s stock has more than doubled, soaring over 102%, while the Nifty rose around 26%.
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