The announcement was made after market hours and the company’s shares today ended at Rs 172.45 on the NSE, up by Rs 8.20 or 5% per share.
Only 1.68 lakh shares traded on the NSE today with a total traded value of Rs 2.89 crore.
The company’s board will also deliberate upon strategic expansion into hydroponics and aquaponics farming technologies. This proposed move comes in view of the increasing global demand for sustainable and water‑efficient agricultural methods, rising consumer preference for pesticide‑free produce, and India’s growing need for high yield, low water footprint farming solutions.
It is anticipated that diversifying into these areas will allow the company to leverage its R&D capabilities, generate higher margins and meet both domestic and export market potential in fresh produce, herbs, and specialty crops.
Nirman Agri Genetics is agri-input company engaged in the business of production, processing and marketing of high-quality hybrid seeds, pesticides, bio-organic for different crops like corn, sunflower, cotton, paddy, grain sorghum, etc. and have recently forayed into micronutrients and bio products. The company also produces non-hybrid seeds, primarily for paddy.The stock was listed on March 28, 2023. The company’s market capitalization is Rs 138.13 crore.The stock of Nirman Agri Genetics has been a significant market underperformer with prices slipping 59% in the past one year. There has been some rebound over the past one month as the stock has rallied 19%.
Nirman Agri Genetics shares are currently trading above their 50-day simple moving average (SMA) of Rs 156.8 according to Trendlyne data. They are trading below their 200 SMA of Rs 255.4.
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