Aries Agro opens first Bio-Fertilizer manufacturing unit; Stock gains 6%
Mumbai-based Aries Agro Limited, a manufacturer of plant nutritional products has introduced new range of specialty plant nutrition products under its umbrella with the opening of its first Bio-Fertilizer manufacturing unit at Ahmedabad. The new plant, which has been built with an investment of Rs 2 crore (excluding land cost) will manufacture mainly two world class specialty plant nutrition products, AQUAPHOS - Phosphate Solubilising Microbes (PSM) and NITROFIX - Nitrogen Fixing Bacteria (Azotobactor) both in liquid form. The company claims that these two new brands will serve growing demands of over 8 million farmers, who are its customers across 20 different states of India. Beside this, the latest unit will also manufacture various customized granular, slow release Chelated multi micronutrient complexes for the states of Punjab, Haryana, Gujarat, Madhya Pradesh and Rajasthan. The total constructed area at the new factory is 10,000 square feet. Shares of the company gained Rs 6, or 6%, to settle at Rs 114. The total volume of shares traded was 7,487 at the BSE. (Monday)