Introduction:
Gujarat Narmada Valley Fertilisers & Chemicals Ltd (GNFC) has partnered with INEOS Acetyls to establish a 600kt Acetic Acid plant in Gujarat. This joint venture aims to reduce Acetic Acid imports, boost domestic industries, and promote India’s self-reliance under the ‘Make in India’ initiative.
Share Price movement of GNFC:
On November 19, 2024, Gujarat Narmada Valley Fertilisers & Chemicals Limited (BSE: GNFC) opened at ₹558.05, reached an intraday high of ₹567.95 and a low of ₹557.90, closing at ₹561.15, reflecting a 0.58% increase. The market capitalization stands at ₹8,245.58 crore.
GNFC signs MoU with UK based company:
Gujarat Narmada Valley Fertilisers & Chemicals Limited (GNFC) has signed a Memorandum of Understanding (MoU) with INEOS Acetyls International Limited to establish a 600kt Acetic Acid plant in Bharuch, Gujarat. This joint venture aims to reduce India’s reliance on Acetic Acid imports.
GNFC will hold a 50% stake in the proposed joint venture, with the remaining 50% owned by INEOS. Both companies bring decades of collaboration in Acetic Acid technology, with GNFC being the sole domestic producer and INEOS a global leader in Acetic Acid production.
The project, expected to be operational by 2028, will address domestic demand, boost downstream industries, and save foreign exchange. INEOS CEO David Brooks and GNFC MD Pankaj Joshi highlighted the partnership’s potential to enhance India’s self-reliance and economic growth in the chemical sector.
Also Read: Mukul Agrawal stocks with high dividend yield to look out for
Recent news About GNFC:
Gujarat Narmada Valley Fertilisers & Chemicals Limited (GNFC) reported standalone net sales of ₹1,917 crore for September 2024, marking a 7.84% year-over-year decline. Despite this, the company’s stock price rose by 0.46% to ₹561.05 on November 19, 2024
Stock performance of GNFC for Period of 1 week, 6 months and 1 year:
GNFC recorded a 2.94% gain over the past week, showcasing short-term positive momentum. However, the stock saw a decline of 14.5% over six months and 20.7% over the past year, reflecting challenges in medium and long-term performance despite recent improvements.
Also Read: Stocks to Watch: 5 Stocks to watch for tomorrow’s market
Shareholding pattern of GNFC:
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 41.3 | 41.3 | 41.3 |
| FII | 16.2 | 19.2 | 19.4 |
| DII | 11.2 | 6.6 | 9.3 |
| Retail & others | 31.4 | 32.9 | 30.0 |
About GNFC:
Gujarat Narmada Valley Fertilisers & Chemicals Ltd (GNFC) is a leading producer of fertilizers and industrial chemicals in India. Known for innovation and sustainability, the company plays a key role in supporting agriculture and industrial sectors, driving growth, and contributing to self-reliance.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
