Unstoppable Surge: Stock Breaks ₹100 in Market Dip, Board to Convene Tomorrow

Business News: There was a demand for some shares amidst the sell-off in the market. One such share is of Balaji Phosphates Limited. Investors pounced on the shares of this company and the price reached a 52-week high. 

Defying the Odds

Recently, Balaji Phosphates Limited informed the stock exchange about the board meeting. The company said that the board meeting is going to be held on 31 March 2025. Information about the quarterly results of the company will be given in this meeting.

Stock crosses 100 mark

Shares of fertilizer manufacturer and supplier Balaji Phosphates entered the stock market on March 7, 2025. Shares of Balaji Phosphates were listed on NSE SME at Rs 75 per share, which represents a premium of Rs 5 or Rs 7.14 over the issue price of Rs 70 per share. The IPO consisted of 5.94 million equity shares under the fresh issue. At the same time, the offer for sale included 1.21 million equity shares. One lot of it had 2,000 shares.

From Sell-Off to Surge

Balaji Phosphates is a manufacturer and supplier of fertilizers including Single Super Phosphate, NPK Granulated and Zinc Sulphate. The company sells its products under the brands 'Ratnam' and 'BPPL'. Its products are sold in regions such as Madhya Pradesh, Chhattisgarh and Maharashtra. As of March 31, 2024, the company had a production capacity of 120,000 metric tonnes per annum for Single Super Phosphate.