FACT Q3 earnings: Declining revenue and weak operational performance put significant pressure on the company's profits.
Four firms have been selected to fact-check misinformation; each will verify up to 100 items monthly. The government will pay Rs 5,000 per verification.
Shares of FACT and GSFC also witnessed profit booking and are trading down by 2 percent and 3 percent respectively.
FACT has broken out of the downsloping channel with good volumes
Fertilisers and Chemicals Travancore (FACT) will become profitable in FY18, says CMD AB Khare in an interview to CNBC-TV18.
Fertiliser stocks have been buzzing on the back of expectations that the government will focus on the agriculture and rural theme in the upcoming Budget.
"Since the price has started moving up, we have thought to start the production again", AB Khare, CMD of FACT told CNBC-TV18.
In an interview to CNBC-TV18, Jaiveer Srivastava, CMD of state-run fertiliser company FACT says, the fertilisers industry, particularly urea, has benefited from certainty and uniform volumes of gas, the key raw material, coupled with stable pricing.
The free float of all these companies is very small, baring MTNL, and hence their market cap is huge
The loan assistance of Rs 1,000 crore to the Kochi-based Fertilisers and Chemicals Travancore Ltd (FACT) would help boost fertiliser supply in Kerala and entire South India.
A delegation led by Kerala Chief Minister Oommen Chandy met Ananth Kumar here on Thursday. The major issue of discussion was revival of FACT Plant at Kochi.
Jaiveer Srivastava, CMD, FACT says the earlier revival package of Rs 991 crore is no more valid. The company needs atleast Rs 2,000 crore to pay off its arrears and undertake expansion plans.
Minister of State (MOS) for chemicals and fertilizers Hansraj Ahir said in the Lok Sabha yesterday that the government has planned financial restructuring of three sick companies namely, MFL, BVFCL and FACT to sustain their operations.
Under this notification, the companies will get a subsidy only if the production starts in the next five years.
Here's how small cap stocks opened on November 8
Bharti Airtel | Infosys | Hathway Cable | Deccan Chronicle Holdings | Ramky Infra | Reliance MediaWorks and Gujarat Apollo are stocks, which are in the news today.
Fertiliser shares rallied on Friday after the government approved a new policy to encourage investment in urea manufacturing, in a move seen expediting USD 6.5 billion in projects that have been held back.
Ashoka Buildcon | Wheels India | Coromandel International | Honeywell Automation | FACT and APW President Systems are stocks, which are in the news today.
Shares of fertiliser companies gained 1-5 percent on Thursday as the Cabinet Committee on Economic Affairs (CCEA) is expected to approve a new urea investment policy today that is likely to incentivise fertiliser firms setting up new plants and expanding existing capacity.
Government has approved fixing nutrient-based subsidy rates for fertilisers, reports CNBC-TV18, quoting agencies.
SP Tulsian, sptulsian.com says, one should avoid stocks like HMT, ITI, FACT and Neyveli Lignite.
Birendra Kumar Singh of FRR Shares advises to hold FACT.
The fertilizer industry is pleased with the government’s decision to hike fertiliser subsidy. Shankar Narayan, Chairman and Managing Director of FACT, speaking exclusively to CNBC-TV18 says that the hike is going to help in improving the operating margins of the company, although he believes it will not affect the international prices.
In an exclusive interview with CNBC-TV18, Shankar Narayan, CMD, FACT expects a 17-18% reduction on subsidies. He added that unless the government reduced its subsidy, he would be forced to increase prices.