Nagarjuna Agrichem shoots up 5%

Shares of Nagarjuna Agrichem, crop protection company and a part of Nagarjuan group, was locked at 5% upper circuit on Wednesday.

The company unveiled new research & development center at Hyderabad that will assist the company in leveraging the substantial opportunities in the crop protection business.

In a release sent to BSE, the company said, "A part of the R&D center will be used for setting up GLP (Good Laboratory Practices) lab facilities. The main objectives of R&D center are to develop cost effective processes for the manufacture of active ingredients and the intermediates for herbicides, insecticides and fungicides and to develop new formulations of pesticides."

At 11:31 hours IST, the share was trading at Rs 63.10, up 4.99%. There were pending buy orders of 12,911 shares, with no sellers available.
 
Its trading volumes increased 96.5% to 3,775 shares as compared to its 5-day average of 1,921 shares. Market capitalisation of the company currently stands at Rs 94.01 crore.