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Shares of Zuari Agro Chemicals surged nearly 8 per cent today as the company received Rs 100 crore as unsecured deposit from promoter Adventz Finance towards meeting its working capital requirements.
The stock jumped 6.85 per cent to settle at Rs 187.15 on BSE. During the day, it climbed 7.9 per cent to Rs 189.
At NSE, shares of the company zoomed 7.81 per cent to settle at Rs 187.65.
In a regulatory filing on Friday, Zuari Agro said: “The Company has availed an unsecured Inter Corporate Deposit (ICD) of Rs 100 crore from Adventz Finance Pvt, a promoter of the company, for a period of 12 months.”
Zuari Agro MD Kapil Mehan told PTI that the money will be used for meeting working capital and other related requirements.
The company has three fertiliser plants in Goa —— one urea and two complex fertiliser units.
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