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New Delhi, The <keyword id="6362177" type="COMPANY" weightage="20" keywordseo="Union-government">Union Government</keyword> plans to sell 10% stake in Rashtriya Chemicals and Fertilisers Ltd (RCFL) through the offer for sale (OFS). The Department of Investment and Public Asset Management has sought bids from law firms to act as legal advisers and assist the government in the process. A domestic law firm will act as the legal adviser to the transaction and submit proposals in a consortium with an international law firm of repute, with similar experience and expertise in public offerings or OFS in capital markets, <keyword id="6470244" type="COMPANY" weightage="20" keywordseo="dipam">DIPAM</keyword> said in a notice. The <keyword id="6356303" type="COMPANY" weightage="20" keywordseo="Centre">Centre</keyword> currently holds 75 per cent stake in the public sector undertaking (PSU). The notice said: "The GoI intends to disinvest 10 per cent paid-up equity capital of RCFL out of its shareholding of 75.0006 per cent, through 'Offer for Sale (OFS) method of shares by promoters through the stock exchanges' as per Securities and Exchange Board of India (<keyword id="35210" type="COMPANY" weightage="20" keywordseo="sebi">SEBI</keyword>) Rules and Regulations." The government is also considering allotting shares to eligible and willing employees of the RCFL at a discount on the issue or discovered price up to a maximum of certain percentage of the OFS size subsequent to completion of the transaction under OFS. The percentage and extent shall be decided in due course. The notice also said that merchant bankers or selling brokers will be required to render such assistance. Rashtriya Chemicals &amp; Fertilisers Ltd is a Mini-Ratna fertiliers and chemicals manufacturing company under the administrative control of the Ministry of Chemicals and Fertilisers. It has two operating units, one at Trombay in Mumbai and the other at <keyword id="1314206" type="COMPANY" weightage="20" keywordseo="Thal">Thal</keyword> in Maharashtra's Raigad district, about 100 km from Mumbai. RCFL manufactures urea, complex fertilisers, bio-fertilisers, micro-nutrients, 100 per cent water-soluble fertilisers, soil conditioners, and a wide range of industrial chemicals. The authorised share capital of the company is Rs 800 crore and the paid-up equity capital is Rs 551.69 crore as on March 31, 2020.

Centre plans to sell 10% stake in Rashtriya Chemicals via OFS

According to a report published in the Indian Express, the <keyword id="905742" type="ORGANIZATION" weightage="20" keywordseo="Narendra-Modi-led-government">Narendra Modi-led government</keyword> is planning to do away with price controls on urea and repeal an import duty of 5% in order to minimise expenditure on subsidy.

	Expenditure on fertiliser subsidy had increased four times in the last decade as the <keyword id="26374" type="ORGANIZATION" weightage="20" keywordseo="UPA-government">UPA government</keyword> had kept <keyword id="114338" type="UNKNOWN" weightage="20" keywordseo="Urea-prices">urea prices</keyword> below its production cost. It is pertinent to mention here that urea is the most commonly used fertiliser in the country. The newspaper reported that decontrolling of the maximum retail price (MRP) of urea (which is presently Rs 5,360 per tonne) is under consideration of the new government. It also said that the MRP is likely to be raised by about 20% per annum over the next three years.<o:p></o:p>

	Although the cost of urea has increased by merely16.5% since 2000, the cost of non-urea fertilisers has increased by almost three times and “muriate of potash has quadrupled.” Farmers have started using urea indiscriminately due to such an increase in the gap between prices.<o:p></o:p>

	This move is expected to help domestic fertiliser companies like <keyword id="128504" type="COMPANY" weightage="20" keywordseo="Chambal-Fertilisers">Chambal Fertilisers</keyword> and <keyword id="25943" type="COMPANY" weightage="20" keywordseo="chemicals">Chemicals</keyword> and <keyword id="214886" type="COMPANY" weightage="20" keywordseo="Rashtriya-Chemicals">Rashtriya Chemicals</keyword> and <keyword id="2690426" type="COMPANY" weightage="20" keywordseo="Fertilizers-Ltd-">Fertilizers Ltd.</keyword> If the import duty is scrapped, it would help <keyword id="6356687" type="COUNTRY" weightage="20" keywordseo="canada">Canada</keyword>'s <keyword id="402123" type="COMPANY" weightage="20" keywordseo="Potash-Corp">Potash Corp</keyword> of Saskatchewan, Mosaic Co of the United States and Russia's Uralkali. 
	 
	Image: thinkstock<o:p></o:p>

India Mulling To Deregulate Urea Prices, Scrap Import Duty: Report

Kolkata, In a bold move to diversify its operations and integrate further into the value chain, <keyword id="45383" type="General" weightage="80" keywordseo="coal-india" source="Orion">Coal India</keyword> Limited (CIL) is targeting the acquisition of lithium, cobalt, and nickel assets abroad. The company has recently amended its Memorandum of Association (MoA) to include non-ferrous and critical minerals, indicating its commitment to expand its presence in new sectors. In the past, the miner's attempt to acquire coal assets aboard did not fructify. In its pursuit of overseas assets, CIL is currently identifying suitable opportunities for mergers and acquisitions, the management informed its shareholders in its latest annual report. The strategic move reflects the company's vision to secure a steady supply of these critical minerals toward the Atmanirbhar mission of India. In 2022, the Ministry of Mines also created a joint venture company, Khanij Bidesh India Ltd (KABIL), with participating interest from NALCO, Hindustan Copper Ltd and Mineral Exploration Corporation Ltd (MECL). KABIL is mandated to identify and acquire overseas mineral assets of critical and strategic nature such as lithium, cobalt, etc. In the past, NMDC and Coal India were considered for participation in the special purpose vehicle (SPV). Highlighting capex plans, Coal India stated that it has proposed a capital expenditure of Rs 16,600 crore in 2023-24. "As part of our investment plan, we have strategically allocated a substantial amount towards diversification projects including ventures such as solar power, thermal power plants, revival of fertilizer plants, surface coal gasification, coal bed methane and others. "With a focus on acquisitions and JVs, we seek to venture beyond our core competencies, tap into emerging opportunities and manage associated risks effectively," Coal India informed its shareholders. In 2022-23, the capital expenditure of CIL registered a phenomenal growth of 20.90 per cent to Rs 18,619 crore. Coal India chairman <keyword id="7940615" type="General" weightage="50" keywordseo="p-m-prasad" source="Orion">P M Prasad</keyword> said CIL has executed three Memorandum of Understanding (MoU) with BHEL, GAIL India Limited, and IOCL for undertaking coal-to-chemical business using surface coal gasification, which is proposed to be implemented jointly through JV companies. Coal India has also signed two MoU for its foray into the thermal power business. The first is for a joint venture between <keyword id="1365399" type="General" weightage="50" keywordseo="south-eastern-coalfields-limited" source="Orion">South Eastern Coalfields Limited</keyword> (SECL) and Madhya Pradesh Power Generating Company Limited (MPPGCL) to implement a 1x660 MW Supercritical thermal power station replacing the retired generating units situated at the existing premises of MPPGCL's <keyword id="1472730" type="General" weightage="50" keywordseo="amarkantak-thermal-power-station" source="Orion">Amarkantak Thermal Power Station</keyword>, Chachai, district Anuppur, Madhya Pradesh. The other initiative is setting up of 2x800 MW Supercritical thermal power plant in Odisha, through Mahanadi Basin Power Limited (MBPL), a wholly-owned subsidiary of Mahanadi Coalfields Limited (MCL). MoU between CIL and Assam Power Distribution Company Limited (APDCL) was executed for the purchase of 1,200 MW from the proposed MBPL Power Plant. CIL has also established joint ventures (JVs) with prominent entities such as the National Thermal Power Corporation (NTPC), Indian Oil Corporation Limited (IOCL), Gas Authority of India Limited (GAIL), and Rashtriya Chemicals and <keyword id="5270214" type="General" weightage="50" keywordseo="fertilisers-limited" source="Orion">Fertilisers Limited</keyword> (RCF). These partnerships aim to mitigate technological and financial risks associated with diversification projects, while also leveraging the expertise of its business partners, the dry-fuel miner said.

Coal India embarks on overseas acquisition of critical mineral assets

<ul><li>The fertilizer company will open its IPO on May 17 and will close on May 19.</li><li>The price band of the IPO is ₹39 - ₹42 per share.</li><li>Shares of the company are already demanding a premium of ₹3 per share in the grey market, which is 10% on the issue price.</li></ul>The fertilizer company will open its initial public offering (IPO) on May 17 and will close on May 19. The IPO consists of a fresh issue of shares worth ₹1,501 crore and an offer for sale of 11.85 crore shares by promoters and shareholders of the company. The company is primarily engaged in manufacturing, trading, distribution and sales of a variety of complex fertilizers such as Di-Ammonium Phosphate (DAP), three grades of Nitrogen-Phosphorus-Potassium (NPK), Zypmite, Phospho-gypsum and Hydroflorosilicic Acid (HFSA). It caters to farmers across the country through its fertilizers marketed under the brand names Jai Kisaan-Navratna and Navratna. Shares of the company are demanding a premium of ₹3 per share in the grey market, which is 10% on the issue price. Grey market is the unofficial market where shares are traded before they are either offered or listed. Here are some of the important dates related to the IPO: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹39 to ₹42 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 17 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 19 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 24 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 25 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 26 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 27 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">350 </td></tr></tbody></table> “Given the fact that the company is valued in line (Chambal fertilizer and Deepak fertilizer) with peers and likely to face headwinds in terms of cost pressures due to recent increase in raw material prices, we recommend a NEUTRAL rating on the issue,” said a report by Angel One. The fertilizer company’s performance has been improving steadily for the last three financial years. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,183 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹223 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,227 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹193 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,397 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹158 crore </td></tr></tbody></table>(Source: Red Herring Prospectus) However, the company has a long way to go in comparison to its peers, who are more profitable and have more diversified chemical businesses. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit after tax (FY21) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chambal Fertilisers and Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coromandel International </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13.1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat State Fertilizers &amp; Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.2 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rashtriya Chemicals and Fertilizers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3.7 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">National Fertilizers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paradeep Phosphates </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.2 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deepak Fertilisers and Petrochemicals Corporation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mangalore Chemicals &amp; Fertilizers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹0.7 billion </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/upcoming-new-ipo-in-this-week-paradeep-phosphates-ethos-emudhra/articleshow/91597535.cms">Three new IPOs opening this week — Paradeep Phosphates, Ethos, eMudhra while LIC to list on exchanges tomorrow</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/top-most-valuable-startups-in-india-in-2021-22/slidelist/91594694.cms">Top 10 most valuable startups in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-companies-will-benefit-through-backward-integration-with-buyout-of-ambuja-and-acc-cement-companies/articleshow/91591119.cms">Adani Group companies will benefit through backward integration with buyout of two major cement firms — Ambuja Cements, ACC</a>

Paradeep Phosphates IPO opens today — GMP already at ₹3 per share

New Delhi, Jul 11 () State-owned RCF on Saturday said it has introduced a hand sanitiser in the market as part of its effort to control spread of coronavirus disease. "To assist government in its effort to combat COVID-19, Rashtriya Chemicals and Fertilizers Ltd (RCF) has introduced a Hand Cleansing IPA Gel RCF SAFEROLA," an official statement said. According to RCF, this hand cleansing gel is a skin friendly moisturizer based hand-sanitiser, which contains Iso Propyl Alcohol (IPA) and Aloe Vera extract. It is enriched with Vitamin-E and has a fresh lime fragrance. RCF has made available this hand cleansing gel in easy to carry non spillable 50 ml and 100 ml bottles at a reasonable price of Rs 25 and Rs 50 per bottle, respectively, the statement said. RCF proposes to market this product through its country wide distribution network. RCF CMD S C Mudgerikar said the product is the company's small contribution towards controlling spread of the current pandemic. RCF - a Mini Ratna - is a leading producer of fertilisers and chemicals in the country. It manufactures urea, complex fertilisers, bio-fertilisers, micro-nutrients, water soluble fertilisers, soil conditioners and a wide range of industrial chemicals. The company is a household name in rural India with brands "Ujjwala" (urea) and "Suphala" (complex fertilisers). MJH BAL

RCF launches hand sanitiser to control COVID-19

<ul><li>At 7:45 am, the SGX Nifty was up 1.12%, indicating a green start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a><a href="https://www.businessinsider.in/"></a></li></ul>Indian stock-market indices are likely to start higher on Monday, led by positive cues from the Asian markets. Most global markets were shut on January 1 and began trading for the first time in 2021. At 7:45 am, the SGX Nifty was up 1.12%, indicating a green start for Nifty50. Other Asian peers were trading in the positive territory as well — the SSE Composite Index was up 0.19%, and the Hang Seng Index was up 0.54%. These are the <keyword id="1044313" type="PERSON" weightage="20" keywordseo="Stocks-to-watch-out-for">stocks to watch out for</keyword> during the trading session today: RIL Market regulator <a href="https://www.businessinsider.in/business/news/sebi-imposes-penalty-on-mukesh-ambani-and-reliance-industries-for-manipulative-trading/articleshow/80071715.cms" data-type="tilCustomLink">SEBI has imposed penalties on Reliance Industries</a> chairman Mukesh Ambani as well as two other entities for alleged manipulative trading in the shares of erstwhile Reliance Petroleum (RPL) back in November 2007. Fines of ₹25 crore and ₹15 crore have been imposed on Reliance Industries (RIL) and Ambani, respectively. Besides, Navi Mumbai SEZ Pvt Ltd has been asked to pay a penalty of ₹20 crore, and Mumbai SEZ has been directed to pay ₹10 crore. <keyword id="6398500" type="ORGANIZATION" weightage="20" keywordseo="beml">BEML</keyword> On Sunday, the government invited preliminary bids for strategic sale of 26% stake and transfer of management control in defence PSU BEML. A 26% sale could fetch about ₹1,000 crore to the exchequer at the current market price. Rashtriya Chemicals &amp; Fertilisers The government plans to sell a 10% stake in Rashtriya Chemical and Fertilizers (RCFL) and invited bids from merchant bankers and legal firms to manage the share sale process. The government holds a 75% stake in RCFL and intends to disinvest 10% of the paid-up equity capital through an offer for sale (OFS). HCL Tech, <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword>, <keyword id="43217" type="CITY" weightage="20" keywordseo="Tech-Mahindra">Tech Mahindra</keyword>, TCS and other IT stocks HCL Tech, Infosys, Tech Mahindra, TCS, and other IT stocks will focus on trade today. <a href="https://www.business-standard.com/article/companies/trump-extends-freeze-on-h-1b-visas-green-cards-it-companies-to-take-hit-121010101134_1.html" data-type="tilCustomLink">US President Donald Trump has extended the freeze</a> on the most sought-after H-1B visas by Indian IT professionals, along with other types of foreign work visas and green cards through March 31 to protect American workers, saying that the reasons for which he had imposed such restrictions amidst the pandemic have not changed. Trump ordered the freeze on various categories of work visas through two proclamations on April 22 and June 22 last year. Tata Motors Tata Motors on Friday reported a 21% increase in total vehicle sales in the domestic market to 53,430 units in December. The company said its PV business has been witnessing the strong response to its 'New Forever' range, which is being supported by a continuous ramp-up of supplies. Hero MotoCorp On Friday, the country's largest two-wheeler maker Hero MotoCorp reported a 5.02% increase in total sales at 4,47,335 units in December. The company said it further consolidated its market leadership by clocking its best-ever third quarter, with 18.45 lakh units sold during the October-December period. <keyword id="62356" type="COMPANY" weightage="20" keywordseo="TVS">TVS</keyword> Motor Company TVS Motor reported a 17.5% increase in total sales to 2,72,084 units in December. The company said its total exports increased by 28% to 94,269 units last month, as against 73,512 in the year-ago period. Edelweiss Financial Services Edelweiss Financial Services (EFSL) has decided to close its public issue of secured redeemable non-convertible debentures (NCDs) on January 4 against the scheduled close of January 15. The company said its debenture fundraising committee decided to exercise early closure and close the issue on January 4. Adani Gas The name of Adani Gas has now changed to Adani Total Gas from January 1. Adani Total Gas is a joint venture company of Adani Group and Total of France. SEE ALSO: <a href="https://www.businessinsider.in/india/news/aidan-asks-dcgi-to-withdraw-approval-for-bharat-biotechs-covaxin/articleshow/80078041.cms">A drug activists' group says it is 'baffled' by the approval given to Bharat Biotech's Covaxin</a> <a href="https://www.businessinsider.in/business/auto/news/checkout-upcoming-new-cars-in-year-2021/slidelist/80025993.cms">Upcoming new cars in India in 2021 of Maruti, Tata, MG, Audi</a> <a href="https://www.businessinsider.in/stock-market/news/bitcoin-crosses-30000-for-the-first-time-as-it-charges-into-2021/articleshow/80078034.cms">Bitcoin crosses $30,000 for the first time as it charges into 2021</a>

Top stocks to watch — BEML, HCL Tech, Infosys, Tech Mahindra, TCS, RIL, Tata Motors Hero Moto, TVS, and others

New Delhi, Apr 15 () Shares of agriculture-related companies on Wednesday gained sharply after the government allowed farm activities in the second phase of the COVID-19 lockdown.Deepak Fertilizers and Petrochemicals Corporation advanced 11.45 per cent, Rashtriya Chemicals and Fertilizers zoomed 10.85 per cent, Chambal Fertilizers &amp; Chemicals 8.02 per cent, National Fertilizers 6.78 per cent and Coromandel International 3.89 per cent on the BSE. Among agrochemicals firm, UPL climbed 7.85 per cent and PI Industries jumped 4.77 per cent.Godrej Agrovet rose by 6.47 per cent. Tractor maker Escorts gained 3.73 per cent.Agricultural and allied activities including dairy, fisheries as well as tea, coffee and rubber plantation are allowed in the second phase of the COVID-19 lockdown, the government said on Wednesday issuing fresh guidelines."All agricultural and horticultural activities remain fully functional," the Ministry of Home Affairs said, issuing a new set of guidelines for enforcement during the second phase of the lockdown till May 3.The government has allowed farming operations and farm workers in the field. As harvesting of rabi crops like wheat is underway, the government has allowed inter and intra state movement of harvesting and sowing related machines like combined harvester and other agriculture and horticulture implements.That apart, the government has allowed shops of agriculture machinery, its spare parts including its supply chain and repairs to remain open.For smooth supply of farm inputs during the ongoing sowing of kharif crops, the government has permitted manufacturing, distribution and retail of fertilisers, pesticides and seeds. SUM ANUANU

Agriculture-related stocks rally after fresh guidelines from govt on lockdown

New Delhi, Feb 11 () State-owned Rashtriya Chemicals and Fertilizers Ltd (RCF) on Tuesday posted 70 per cent jump in consolidated net profit to Rs 78.42 crore for the third quarter this fiscal on lower expense and tax refund.The company had clocked a net profit of Rs 46.14 crore during the October-December quarter of the 2018-19, according to a regulatory filing.Net profit rose, on a consolidated basis, mainly because of lower expenses and a tax refund of Rs 64.27 crore during the quarter.Net income declined to Rs 2,245.57 crore during October-December quarter of the 2019-20 from Rs 2,373.96 crore in the year-ago period.However, expenses remained lower at Rs 2,231.21 crore as against Rs 2,292.39 crore.Shares of the company closed 0.22 per cent lower at Rs 45.10 apiece on the BSE on Tuesday. LUX LUX BALBAL

RCF Q3 net profit rises 70 pc on lower expense, tax refund

<ul><li>Both Sensex and <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> declined nearly a percent and half as Finance Minister Nirmala Sitharaman read her budget speech.</li><li>Markets were hoping for a big stimulus from the government to revive the economic growth which has hit a six and a half year low. </li><li>Changes to income tax slabs, passing of the tax on corporate dividends, liberalisation of education sector, the IPO of LIC, extended tax holiday for affordable housing were among the big proposals.</li></ul>India's <keyword id="35199" type="PERSON" weightage="20" keywordseo="stock-markets">stock markets</keyword> were unusually open on a Saturday, in anticipation of an 'economic stimulus', but as Finance Minister Nirmala Sitharaman went through with her speech, both Sensex , down nearly 700 points, and Nifty that was down about 220 points at 2:30 pm. Changes to income tax slabs, passing of the tax on corporate dividends, liberalisation of education sector, extended tax holiday for affordable housing, and the initial public offering of Life Insurance Corporation (LIC) were among the big proposals. However, the stock market did not seem very excited with the minister's proposals. "Investors stayed away from taking fresh positions ahead of the big event. Focus will turn to the Union Budget as all eyes will be on how Centre is going to bring growth as any increase in spending would result in widening of fiscal deficit. Global economy is also on the edge with slow growth fears significantly high after the outbreak of the virus," Vinod Nair, head of research at Geojit Financial Services told IANS earlier in the day. Insurance stocks like HDFC Life, ICICI Prudential, and SBI Life took a heavy beating, down anywhere between 5% and 8%, after the budget proposed the listing of LIC ⁠— the country's largest insurance giant with a corpus of ₹31 lakh crore⁠— that is likely to corner a lot of interest from investors. Technology stocks were propped up as the early part of Sitharaman's speech gave a lot of thrust to leveraging technology in a whole host of sectors from health and education to quantum computing and gene mapping. Even stocks like HUL, Asian Paints, and Bajaj Finance, which started the day on buoyant note hoping for sharp cuts in income tax and a boost for consumption including housing, gave up the early gains as the tax cuts proposed by the budget can be availed only if the taxpayer gives up on exemptions. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Income </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Previous Tax Rate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New Tax Rate </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Up to ₹2.5 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nil </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nil </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.5 lakh to ₹5 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nil </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5 lakh to ₹7.5 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7.5 lakh to ₹10 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10 lakh to ₹12.5 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12.5 lakh to ₹15 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Abover ₹15 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr></tbody></table> While Sitharaman said that a person earning up to ₹15 lakh a year can save up to ₹78,000 a year in taxes, if they give up on exemptions. These are some of the big highlights that are relevant to the share market: Cost to the exchequer ₹40,000 crore; Removed 70 tax exemptions and deductions. These new rates are available to those who forego exemptions, deductions, and rebates. Dividend distribution tax will be abolished, it will be taxable in the hands of the recipient. Cost to exchequer: ₹25,000 crore. ""The decision to remove dividend distribution tax was much-needed as it was resulting in triple taxation of corporate earnings. The shift to a simplified scheme of personal income tax is another welcome move as it removes distortionary influences in the individual’s savings choices even though the actual tax savings may not be significant for those who were availing deductions and exemptions," VP Nandakumar, MD &amp; CEO of Manappuram Finance Limited said. However, the stock of the company fell over 3.2% in trade. Shares of IDBI Bank surged as much as 17% after the Finance Minister said that the government will sell its remaining 47% stake (as of December 2019) in the bank. LIC owns 51% stake in IDBI Bank, the unlocking of value will make the insurance giant's IPO even more valuable. Zeal Aqua (up 14.4%), Waterbase (up 5.58%), Apex Frozen (up 4.55%), Avanti Feeds (up 2.93%) and Coastal Corporation (up 2.66%) gained due to a dedicated push for the fishing industry. Sitharaman said that the fish production will be increased 200 lakh tonnes a year and set a target of ₹1 lakh crore in fish exports. The education sector has been allowed to borrow money from abroad as well as to invite foreign students via a new entrance examination called the INDSAT. Shares of Navneet Education (up 2.33%), Zee Learn (up 2.19%), Career Point (up 1.98%) and MT Educare (up 1.97%), gained in trade. The speech discouraged the use of chemical fertilisers, and promote organic farming, dragging down stocks like Rashtriya Chemical Fertilisers. The ₹2.83 lakh crore allocation for agriculture, irrigation, and rural development did little to stokes of a revival in rural demand. Dividend distribution tax will be taxable in the hands of the recipient and not the company. This will cost 25,000 crore to the exchequer. Dividend and capital gains made by foreign funds on investment in infrastructure space will tax free. The budget also proposed to set up a 100 new airports in the next five years but stocks of airport construction majors like GMR Infra and GVK were down nearly 5% in afternoon trade. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/new-income-tax-slab-tax-savings-for-salaried-people/articleshow/73835816.cms">You'll save ₹78,000 more under new income tax slabs if you earn less than ₹15 lakh</a> <a href="https://www.businessinsider.in/budget/news/indian-government-infuses-22000-crore-in-power-and-renewable-proposes-freedom-to-choose-supplier/articleshow/73835587.cms">Indian government infuses ₹22000 crore in power and renewable, proposes freedom to choose supplier</a> <a href="https://www.businessinsider.in/budget/income-tax/news/check-out-new-income-tax-slab-of-2021/articleshow/73830824.cms">New income tax slabs 2020</a> <a href="https://www.businessinsider.in/budget/news/there-will-be-no-manual-cleaning-of-sewers-anymore-announces-nirmala-sitharaman/articleshow/73835265.cms">“There will be no manual cleaning of sewers anymore,” announces Nirmala Sitharaman</a> <a href="https://www.businessinsider.in/budget/news/union-budget-2020-live-updates-news-and-highlights/liveblog/73824572.cms">Union Budget 2020 Live Updates</a>

You Searched For "Rashtriya Chemicals" and got 9 results

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RCF Q3 net profit rises 70 pc on lower expense, tax refund

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