NRC Ltd Share Price

Summary

NRC (formerly National Rayon Corporation) belongs to the G P Goenka Group (Duncans). Originally promoted by Chinai & Company, NRC was incorporated as a public limited company in Sep.46. It commenced commercial production of rayon yarn in Mar.51, caustic soda in Mar.55 and nylon tyre cord in 1975. Due to labour unrest, the company was forced to suspend operations followed by a lock-out from Jan.83 to Mar.83 and again from Nov.83 to May 85. In Nov.84, G P Goenka took over the company with the immediate task of re-starting the operations and rehabilitation of the company. All the plants of the company restarted in Aug.85. Due to continuous losses suffered by the company from 1983 onwards, it became a sick unit under the BIFR. With the implementation of the BIFR rehabilitation scheme, the net worth of the company became positive, and the BIFR discharged NRC in Jan.94 from its purview. In Mar.94, the company offered rights to part-finance modernisation and upgradation of its rayon and nylon plants to improve quality and increase productivity. The caustic soda plant has also been expanded based on membrane cell technology. The company changed its name to the present one in Aug.94. The scheme of amalgamation of Stage Investments with the company was sanctioned by the high courts of Bombay and Calcutta. During 1996-97, company has completed a modernisation of De-bottlenecking of its Nylon Cord and Caustic Soda Plant. Due to frequent hike in the power tariff and deterioration in the q
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