RCF clarifies on news item regarding JVs

With reference to the news item appearing in a leading financial daily titled "Rashtriya Chemicals in talks for West Asia JVs", Rashtriya Chemicals & Fertilizers Ltd (RCF) has clarified that the Company has been exploring the possibilities of setting up joint ventures to increase the production of the fertilizers and in this connection some preliminary discussions have taken place with some of the manufactures in the field. As it is purely exploratory, no detailed discussions / negotiations have occurred with any of the parties and the Company would go in for any ventures only after establishing the economic viability of the ventures.

The stock closed at Rs.37.90, down by Re.0.55 or 1.43%. The stock hit an intraday high of Rs.39.15 and low of Rs.37.85. The total traded quantity was 84890 compared to 2 week average of 80485.

Source : Equity Bulls

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