Mangalore Chemicals gains over 11% on open offer by Deepak Fertilisers
Posted By: Religare
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Shares of Mangalore Chemicals rose over 11 per cent in early trade on Bombay Stock Exchange (BSE) after Deepak Fertilisers and Petrochemicals Corporation makes an open offer to acquire 26 per cent stake in the company at price of Rs 61.75 per share.
The shares of company rose as much as 11.86 per cent to trade at Rs 69.30 a piece on the BSE. In a similar fashion, shares of the company rose 12.17 per cent to Rs 69.60 a piece on National Stock Exchange.
Meanwhile, the broader benchmark Sensex was quoting at 22,860.46, up 102.49 points or 0.45 per cent at 10:56 hours.