India's NACL Industries rises as Coromandel International plans to buy stake

Coromandel International

13/03/2025 08:09

** Shares of NACL Industries NACL.NS rise 12% to 89.13 rupees, set to gain for a third straight session, if current trend holds

** Coromandel International CORF.NS to acquire 53.13% stake in NACL from promoters

** CORF also made an open offer to acquire up to 26% stake in NACL from public shareholders

** Stake acquisition at 76.70 rupees per share, discount of 3.6% to stock's previous close

** NACL trading vols at 7.6 mln shares, over 12x the 30-day average

** NACL stock up ~33% YTD vs a 9.2% fall in 2024

 (Reporting by Vijay Malkar)

 ((VijayDattaram.Malkar@thomsonreuters.com;))