Latest news with #RCF
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Business Standard
a day ago
- Business
- Business Standard
CCI orders probe against RCF for unfair sale of products with urea in Maha
The Competition Commission of India has ordered a probe against state-run Rashtriya Chemicals and Fertilizers for allegedly compelling dealers and farmers to buy other products along with urea in Maharashtra. Acting on a complaint filed by an individual, the fair trade watchdog said the conduct of RCF appeared to contravene provisions of the Competition Act, including those relating to abuse of dominant position and anti-competitive agreements, according an order. The Competition Commission of India (CCI) has directed its investigation arm, the Director General, to probe the matter and submit a report within 60 days. It was clarified by CCI that the observations were preliminary and would not prejudice the outcome of the investigation. The complainant (individual) alleged that RCF, a 'Navratna' PSU and a leading fertiliser maker, was compelling dealers and farmers to buy non-subsidised products such as water-soluble fertilisers along with urea. The CCI noted that urea's maximum retail price is government-fixed and heavily subsidised, making it an essential input for farmers. The complainant submitted evidence including letters from government departments and dealers' associations, media reports, and video recordings showing forced sales. Despite repeated warnings from central and state authorities against the practice, complaints persisted across Maharashtra, the complainant said. The competition watchdog noted that RCF accounted for over 42 per cent of the urea supply in the state in 2023-24, far ahead of its nearest competitors. Given the regulated nature of urea distribution, farmers in Maharashtra were highly dependent on local manufacturers, it observed. The Commission said that "RCF holds a position of dominance in the market for sale and supply of Urea in the State of Maharashtra and by tying the sale of other products with that of Urea, it appears that it has leveraged its position to enter into or to protect the market for other products". Such leveraging by a dominant entity has been frowned upon under the scheme of the Act as it hinders fair competition in the market. In this context, the Commission is of the prima facie view that there appears to be a violation of Section 4(2)(e) of the Act, the regulator added. RCF, under the Ministry of Chemicals and Fertilizers, operates units in Trombay and Thal in Maharashtra. It produces urea, complex fertilisers, micronutrients, and industrial chemicals.
Time of India
04-08-2025
- Time of India
Badminton coach stabbed over 1,000 ransom demand in Chembur; 3 booked for attempt to murder
Mumbai: In a shocking incident of extortion and violence, a 44-year-old badminton coach was brutally attacked by three local goons who demanded a weekly ransom of Rs 1,000 from him. The incident took place late night on Sunday evening at Babasaheb Ambedkar SRA Building in Prabuddha Nagar, Chembur. The complainant, Prafulla Ghatvisave, was chatting with a friend near his residence when the accused—identified as Sunny Madhukar Bhosale (30), Sunny Ramdas Buchude (32), and Vikas Khetre (28)—approached the victim saying he was from Sunny gang. They demanded that Ghatvisave pay them Rs 1,000 per week from the rent of a room belonging to his friend's sister, Shobha Sakhra. When he refused, the accused forcibly snatched his gold bracelet and assaulted him. Amidst the scuffle, Sunny Bhosale allegedly pulled out a broken beer bottle and stabbed Ghatvisave in the stomach multiple times, leaving him grievously injured. Ghatvisave was immediately rushed to Sion Hospital, where he is currently undergoing treatment. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai The RCF police have registered an FIR under sections 307 (attempt to murder), 386 (extortion), and other relevant sections of the Indian Penal Code. A manhunt is underway to nab the three accused, who are currently absconding.
Hans India
26-07-2025
- Business
- Hans India
RCF Kapurthala-SBI sign MoU
Kapurthala: Rail Coach Factory, Kapurthala and State Bank of India (SBI) signed a Memorandum of Understanding (MoU) to enhance salary benefits of employees. The objective is to enhance facilities to provide enhanced salary package benefits to RCF employees operating their salary accounts in SBI. For this, the bank undertakes to provide enhanced facilities and services to RCF employees receiving salary through any of its branches. For this, all RCF employees will have to get their accounts verified in the banks and convert them into Railway Salary Package. S S Mishra, General Manager, Rail Coach Factory, Kapurthala, Shri Bhupeshwar Attri, Principal Chief Personnel Officer, Bam Shankar Mishra, Deputy General Manager/SBI, Hemant Sulaniya, Deputy Chief Personnel Officer/RCF, Abhinav Goyal, Branch Manager/SBI RCF etc. were present on the occasion. Under this Railway Salary Package, State Bank of India will provide various facilities which include personal accident insurance cover, air accident insurance cover, family savings account SBI Rishte , free banking by ATM/Internet/Mobile Banking/YONO, concession in charges on loans etc. and various other attractive facilities and services.
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Business Standard
15-07-2025
- Business
- Business Standard
Rallis, RCF, Deepak Fertilisers rally up to 9%; what's driving agri stocks?
Share price movement of agri related stocks Shares of agri related companies like Rallis India, Rashtriya Chemicals and Fertilizers (RCF), Deepak Fertilisers & Petrochemicals Corporation, Paradeep Phosphates and Sharda Cropchem rallied up to 9 per cent on the BSE in Tuesday's intra-day trade after Rallis India reported healthy June quarter (Q1FY26) earnings. Rallis India hit a 52-week high of ₹385.60 on the back of heavy volumes. A combined 16.66 million equity shares changed hands at the counter on the NSE and BSE. Shares of Deepak Fertilisers surged 6 per cent to ₹1,658, followed by RCF (5 per cent to ₹159), Paradeep Phosphates (4 per cent at ₹177.80) and Sharda Cropchem (4 per cent at ₹814.50). UPL, PI Industries and Coromandel International were trading higher in the range of 1 per cent to 3 per cent. In comparison, the BSE Sensex was up 0.14 per cent at 82,368 at 10:28 AM. Rallis India Q1 results Rallis India for the April-June 2025 quarter (Q1FY26) reported revenue of ₹957 crore, up 22 per cent year-on-year (YoY), led by volume led growth in both crop care and seeds businesses. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 56.3 per cent at ₹150 crore, while margins came at 15.7 per cent, (up by ~300 bps YoY), driven by volume led growth and moderated fixed cost. Profit after tax stood at ₹95 crore in Q1FY26 as compared to ₹48 crore in Q1FY25. The management has attributed strong performance during the quarter to an early onset of monsoon in the domestic market and recovery in volumes in few products. The growth was indeed driven by volumes thus nullifying the lower GPM impact (lowest in the last 9 quarters). The management remains cautiously optimistic about the coming quarters for the domestic market and gradual recovery in the exports market. Agri - Industry overview With a growing consumer base, the agri-inputs sector stands poised to benefit from a shift towards more efficient, sustainable practices. Opportunities remain abound in developing advanced fertilizers, bio-based solutions and precision agriculture technologies that can increase crop yields while reducing environmental impact. The Asia-Pacific (APAC) crop protection market is expected to grow from $15.5 billion in 2024 to $18.8 billion by 2029, contributing 25.2 per cent to the global market's incremental growth during this period. The region's large and growing population is driving agricultural intensification. This increases the need for effective crop protection solutions to improve yields, said Sharda Cropchem said in its FY25 annual report. Meanwhile, according to Elara Capital, agrochemicals companies, domestic-dependent as well as exports-driven, are likely to see healthy volume growth. Domestic branded companies' top-line growth would be driven by robust placement, due to expectations of normal Monsoon driving healthy agrochemicals demand. If the timing and distribution of Monsoon is favorable, the industry is likely to see sharp consumption growth at the farm level. On the exports side, with destocking largely over globally, fresh demand is driving growth in the international business for our coverage universe. 'Tactically, for the quarter, we prefer domestic agrochemical companies, as we believe, domestic agrochemicals demand can see a significant upswing if the timing and distribution of Monsoon is in balance. Fertilizer companies have seen a healthy run-up in the stock price in the range of 10 per cent-35 per cent in the past three months, and have yet to factor in near-term risk, due to rising raw material prices, in our view,' the brokerage firm said in sector quarterly preview.
Time of India
01-07-2025
- Business
- Time of India
Nokia signs 1.5-billion-euro sustainability-linked revolving credit facility
NEW DELHI: Nokia has signed a 1.5-billion-euro (~$1.77 billion) five-year multi-currency revolving credit facility (RCF) with sustainability-linked pricing, which adjusts the margins based on the Finnish telecom gear maker's progress towards two key targets. The new RCF, which includes two one-year extension options, has replaced the previous 1.41-billion-euro RCF agreement from June 18, 2019, Nokia said on Monday. The targets, which will be observed annually and impact pricing in the following year, are Nokia's reduction of absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions, and reduction of absolute Scope 3 GHG emissions. 'We're delighted with the strong support and commitment from our key banking partners in this refinancing transaction that connects our financing strategy with our sustainability priorities,' said Marco Wirén, chief financial officer, Nokia. 'We are committed to our climate transition plan, which is built to deliver efficiency and innovations in our value chain. Continuing to link the pricing of the revolving credit facility to our science-based climate goals is a strong step forward demonstrating our commitment to our sustainability targets,' said Subho Mukherjee, vice president of sustainability, Nokia. Nokia said it is committed to reducing its Scope 1, 2 and 3 GHG emissions. The vendor has a net-zero target of 2040, which is approved by the Science Based Targets initiative (SBTi), ensuring that Nokia's greenhouse gas emissions targets and paths towards those targets are independently validated.
