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Nagarjuna Fertilizers and Chemicals , which had taken up plant maintenance activities on July 4, has extended the closure of its units due to inadequate working capital on account of Direct Benefit Transfer (DBT) and accumulated losses arising out of the earlier GAIL accident.
The company is in the process of sorting out the working capital issues with bankers to restart the plant, it said in a notice to the bourses. Shares of Nagarjuna Fertilizers slumped 4.90 per cent at ₹11.90 on the NSE.
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