NACL incorporates a new subsidiary

NACL Industries announced that the company has incorporated a new wholly-owned subsidiary named as NACL Spec-Chem Limited.

NACL Industries has received a certificate of incorporation granted by Central Registration Centre, Ministry of Corporate Affairs for incorporating the subsidiary. The wholly-owned subsidiary will have a share capital of Rs 2,00,00,000 divided into equity shares of Re 1 each. NACL Spec-Chem Limited will belong to the agrochemicals industry, which includes insecticides, fungicides, herbicides and other speciality chemicals as well. The company will undertake the business of manufacturing, formulating, processing, marketing all kinds of chemicals, synthetic and bio-organic pesticides, insecticides, acaricides, weedicides, herbicides, fungicides, nematicides, rodenticides, biological insecticides, bactericides, molluscicides, insect hormones, plant growth chemicals and nutrients, anti-feedants, anti-bacterials, repellants, attractants, chemosterllants, bio products, bio-stimulants, bio-control, seed dressing materials, soil, seed and grain fumigants, etc. A cash consideration was made for the incorporation of the said company.

NACL Industries Limited formerly known as Nagarjuna Agrichem Limited is engaged in the business of agri inputs. The company is involved in the business of crop protection and manufactures technicals i.e. active ingredients (AI) and formulations.

On Wednesday, the stock of NACL Industries closed at Rs 25.40, down by 0.97 per cent or Rs 0.25 per share. The 52-week high is Rs 36 and 52-week low is Rs 17.05 on BSE.