Mangalore Chem shares fizz on takeover signals - Hindustan Times
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Mangalore Chem shares fizz on takeover signals

PTI | By, Mumbai
Jul 12, 2013 01:42 AM IST

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.

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.

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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.

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

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