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The market extended last week's rally on Monday as equity benchmarks ended at fresh record closing highs, with the Nifty closing above 10,050 level for the first time. Hope of rate cut in the upcoming monetary policy review on August 2 and reduction in saving interest rate by SBI led the rally.
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Coromandel International Ltd’s consolidated net profit increased manifold ₹75 crore in the first quarter ended June 30, 2017, against ₹7 crore in the corresponding quarter of last year.
The Hyderabad-based Coromandel International, a part of the Murugappa Group, has reported a nine-fold jump in consolidated net profit to Rs 75.43 crore for the June quarter in FY18, as compared to Rs 7.49 crore in the year-ago period.
Over three dozen firms including Alembic, Astec Lifesciences, Binani Ind, Century Enka, Coromandel International, Elgi Equipments, Equitas, Escorts, NIIT, NDTV, HeidelbergCement, India Cements, Karur Vysya Bank, LIC Housing Finance, L&T, NR Agarwal, Oriental Carbon, Ramky Infrastructure, SKF India, Subex, Tanla Solutions and Zuari Agro Chemicals will announce their April-June quarter numbers on Thursday.
Coromandel International, the country's second largest phosphatic fertiliser player, has received environmental clearance for raising production capacity of its facility at Vishakhapatnam in Andhra Pradesh.
Coromandel International, the country's second largest phosphatic fertiliser player, has received environmental clearance for raising production capacity of its facility at Vishakhapatnam in Andhra Pradesh. The environment clearance to Rs 225-crore expansion project is subject to the compliance of specific and general conditions, the environment ministry said in a letter issued to the company.
The report "Complex Fertilizers Market by Type (Incomplete, Complete), Crop Type (Cereals, Oilseeds, Fruits & Vegetables), Form (Solid, Liquid), and Region (North America, Europe, Asia-Pacific, South America, and Rest of the World) - Forecast to 2022", published by MarketsandMarkets™, the Complex Fertilizers Market was valued at USD 44.03 Billion in 2016. It is projected to grow at a CAGR of 6.5% from 2017, to reach a projected value of USD 54.
The report "Organic Fertilizers Market by Source (Plant, Animal, and Mineral), Form (Dry and Liquid), Crop Type (Cereals & Grains, Oilseeds & Pulses, and Fruits & Vegetables), and Region (North America, Europe, Asia-Pacific, and RoW) - Global Forecast to 2022", published by MarketsandMarkets™, the Organic Fertilizers Market was valued at USD 5.87 Billion in 2016. It is projected to grow at a CAGR of 12.
Coromandel International, a part of the Murugappa Group of companies, is a leading manufacturer of a wide range of fertilisers and pesticides. Coromandel, India’s second largest phosphoric fertilisers players, is in the business segments of fertilisers, specialty nutrients, crop protection and retail.
Equity benchmarks snapped four-day winning streak Wednesday on profit booking and as investors maintained cautious stance ahead of fourth quarter and full year GDP data due later today.
The ₹30,000-crore Murugappa Group is confident of capacity utilisation hitting the ceiling in the current year demanding finalisation of capital investment plans in the second half.