Mangalore Chemicals spurts again
By
Research Desk
about 9 years ago
Mangalore Chemicals and Fertilizers (MCF) has shown an almost 11 times jump in volumes and the stock hit an intra day high at Rs.97.15. Its 52-week high is at Rs.104.65.
The stock is back in the news as the takeover battle intensifies further. Zuari Agro led by Saroj Poddar announced a further 10% hike from its earlier offer size. It now plans to spend Rs.398 crore to buy upto 36.56% stake while earlier it planned to buy 3.07 crore shares, representing 25.9% stake.
The largest shareholding shows that the UB group holds 21.97% stake, Zuari has 16.47% stake and Deepak Fertilizer has 31.25% stake.