RCF issues commercial paper to SBI
Shital Jibhe / 23 Jan 2017
Rashtriya Chemicals and Fertilisers (RCF) traded on its new 52-week high of Rs 59.35 on January 23, as it has issued a commercial paper worth Rs 180 crore to State Bank of India (SBI), having maturity date on March 30, 2017.
Rashtriya Chemicals and Fertilisers (RCF) traded on its new 52-week high of Rs 59.35 on January 23, as it has issued a commercial paper worth Rs 180 crore to State Bank of India (SBI), having maturity date on March 30, 2017.
SBI is trading with gains too. The stock of the bank has crossed its 30-day simple moving average (SMA) on January 23. Currently, the stock has gained 71.04 per cent from its 52-week low of Rs 148.30.
RCF, a leading fertiliser and chemicals manufacturing company with about 80 per cent of its equity held by the government of India, is trading above all its SMAs. Last week, the stock had hit its new 52-week high, which was breached on January 23 to set a new one. The stock of RCF is trading with a price earnings (P/E) ratio of 20.49.
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