GSFC up on decision to buy 20% stake in Canada-based co

Gujarat State Fertilizers & Chemicals (GSFC) gained more than a percent on the company has decided to buy 20 percent stake in Canada-based Karnalyte Resources.

The company has executed definitive agreements and committed a strategic investment up to 60 million Canadian dollars (Rs 300 crore) in Karnaylte Resources Inc. (Wynard Carnallite Project) in Canada to secure long term supply of potash.
 
At 10:53 hours IST, the stock rose 1.01 percent to Rs 70.35 on Bombay Stock Exchange. Market capitalisation of the company currently stands at Rs 2,803.29 crore.

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