SD Agchem allots 5789 shares to Punjab Chemicals & Crop Protection Ltd

Punjab Chemicals & Crop Protection Ltd has announced with reference to the capitalization of overdue export proceeds of Euro 34,76,978 and USD 87,500 valuing Rs. 25,94,19,394/- of SD Agchem (Europe) N.V, Belgium, a wholly owned subsidiary of the Company, (hereinafter "SD Agchem") into investment in SD Agchem in accordance with the approval received from Reserve Bank of India dated March 31, 2016, as the said amount was utilized by the said subsidiary for acquiring stake in step down subsidiary viz. Sintesis Quimica SAIC, Argentina.

In view of the above, SD Agchem has allotted 5,789 shares of Euro 615 each to the Company for contribution in kind.

Shares of PUNJAB CHEMICALS AND CROP PROTECTION LTD. was last trading in BSE at Rs.268.1 as compared to the previous close of Rs. 272.6.

The total number of shares traded during the day was 9686 in over 287 trades.The stock hit an intraday high of Rs. 274.5 and intraday low of 268.1. The net turnover during the day was Rs. 2624606.