Nagarjuna Fertilizers stock slips 2% after closing ammonia urea plant at Kakinada

The company is working with the lenders and gas supplier for the extension of the escrow agreement.

Jul 03, 2020 12:07 IST India Infoline News Service

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Nagarjuna Fertilizers and Chemicals Limited informed the exchanges Thursday that the operating ammonia urea plant has been temporarily shut down on July 1, 2020, due to the non-execution of an amendment to the escrow agreement of the company.

Further, the company is working with the lenders and gas supplier for the extension of the escrow agreement and expects to resume the operations very soon.

The company is currently trading at Rs5.45 down by Rs0.13 or 2.33% from its previous closing of Rs5.58 on the BSE.

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