On 9th Dec, Coromandel share price surged by more than 5 per cent, to touch the day’s high and low at Rs. 284.75 and Rs. 271.80, as per NSE.
The capacity of Coromandel International Ltd's fertilizer unit has expanded from 700 tonnes per day to a 1,000 tonnes per day. On Thursday, a public hearing for the purpose was held in the factory premises at Sriharipuram.
The capacity expansion is going to generate additional jobs for 275 persons directly or indirectly. Coromandel had spent Rs. 3.1 crore on different corporate social responsibility activities in the vicinity of the plant for the past five years. A total of Rs. 26 crore is going to be spent on environment management activities as part of its expansion project.
Coromandel International of the Murugappa group looks after 70 per cent of the farming needs of Andhra Pradesh and Telangana . Post demonetization, fertilizer offtake had gone down excessively in both the Telugu states during the rabi season. Hopefully the situation will improve.
On November 24, 2016, the Stakeholders Relationship Committee of Coromandel International Ltd has allotted 19,800 Equity Shares of Re. 1/- each fully paid up to employee(s) under the Employee Stock Option Scheme 2007.
At 2.40 PM, Coromandel share price is trading above 14 points at Rs. 284.65. Around 6,02,060 shares are traded in the counter with a traded volume of Rs. 1,683.72 lacs, as per NSE.
Coromandel is a multibagger stock for this quarter as recognized by Dynamic Levels, based on their technical and fundamental research, it is seen to have traded in very high volumes. Multibagger stocks have a great potential to grow in the long run.
In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please visit Coromandel share price history.
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