GNFC hits a new 52-week high
By
Research Desk
about 8 years ago
Gujarat Narmada Valley Fertilisers and Chemicals (GNFC) had hit a new 52-week high yesterday at Rs.151.35 and today, it hit another new high at Rs.176.95. The stock’s life time high is at Rs.231, hit on 27th Dec 2007.
Other fertilizer stocks are also up – Chambal, GSFC, Deepak Fertiliser, FACT, Mangalore Chemicals, Madras Fertilisers.
This is a seasonal movement. This is the season when demand for fertilisers goes up. This year the monsoon is normal thus demand is expected to be very good for the sector. Usually Q2 and to some extent Q3 are the best times for this sector, when monsoon is good.