Oct. 2, 2012
Mavens Biotech Ltd plans to set up a secondary nutrients fertilizer granulation plant at Manchar, District - Pune, Maharashtra with a capacity of 100 tons per month. The company will target Maharashtra in first phase and thereafter the other markets in India for sale of secondary nutrients.
The company also plans to set up a processing unit for Neem Powder / Pellets and its related products for agriculture use at Manchar, Pune, Maharashtra.
The National Academy of Agricultural Sciences has estimated (2009) that for meeting the food needs of the country by 2025, India may have to increase its plant nutrient supply to over 45 million tonnes from a current level of 25 million tonnes in 2008-09 through NPK Fertilizers and from 4 to 6 million tonnes through organic manures. Out of this, 35 million tonnes should come from chemical fertilizer sources and the remaining 10 million tonnes from organic sources.
The Mavens Biotech Ltd stock was trading at Rs.2.19, up by Rs.0.14 or 6.83%. The stock hit an intraday high of Rs.2.34 and low of Rs.2.08.
The total traded quantity was 4.74 lakhs compared to 2 week average of 1.59 lakhs.