Mangalore Chem shares fizz on takeover signals | business | Hindustan Times
Today in New Delhi, India
Feb 21, 2017-Tuesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Mangalore Chem shares fizz on takeover signals

business Updated: Jul 12, 2013 01:42 IST
PTI
Mangalore Chemicals & Fertilisers Ltd

Shares of Mangalore Chemicals & Fertilisers Ltd on Thursday spurted by nearly 10% to touch an all-time high of Rs 68 both on the Bombay Stock Exchange and the Natio­nal Stock Exchange, after Zuari Fertilisers hiked its stake to over 13% in the UB Group firm.

Zuari on Wed­nes­day acquired 41.43 lakh shares of MCFL for Rs 25 crore, taking its stake to over 13% and becoming the third-largest shareholder in the company.

Deepak Fertilisers has overtaken UB Group as the largest stake­holder in MCFL.