Penny Stock Under ₹100: Chemical Firm Gets Govt Nod for Nano Fertilizers
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Meghmani Organics Ltd gained investor attention after securing government approval for nano fertiliser production, triggering a sharp rise in its share price.
✨ AI Powered Summary
Meghmani Organics Ltd share price witnessed strong buying interest in today’s trading session after the company announced that it has received approval from the Ministry of Agriculture and Farmers Welfare for the manufacture of nano fertiliser products.
The approval covers the production of Nano DAP, Nano NPK and Nano Zinc. These products will be manufactured at the Sanand facility in Gujarat, operated through Meghmani Crop Nutrition Limited (MCNL), a wholly owned subsidiary of the Company.
Importantly, the company stated that the manufacturing will be carried out by leveraging existing infrastructure and will not require any additional capital expenditure. Commercial production is expected to begin during the upcoming Kharif season.
About Meghmani Organics Ltd
Meghmani Organics Ltd is an integrated diversified chemical Company with a global footprint. The Company has over 39 years of experience in the chemical industry and operates across multiple segments within the chemical value chain.
Share Price Performance
Meghmani Organics Ltd share price surged to Rs 52.01, marking an Intraday gain of 6.29 per cent. During the session, the stock touched a high of Rs 52.46 and a low of Rs 48.94.
Over the past one month, the stock has delivered a return of 15.67 per cent. However, on a year-to-date basis, the performance remains negative at 18.42 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.