NFCL denies undisclosed info behind stock price movement

Nagarjuna Fertilizers responded to exchange rumour verification query on unusual trading activity. The company said no negotiations are ongoing, no undisclosed information exists, and no regulatory or legal proceedings are pending. This follows the July 2024 disclosure where secured creditor ACRE sold company assets and issued a No Due Certificate, releasing NFCL from its Rs 3,858 crore debt. Post asset sale, the company is not a going concern and most staff have left. It is exploring a urea production arrangement with AM Green Ammonia.