Foseco India peaks on stake buy in Morganite Crucible (India)

Foseco Crucible (India)

22/08/2025 09:30

** Shares of Foseco India FSCO.NS jump 8% to record 6,070 rupees

** Foundry chemicals and fluxes maker to buy 75% stake in Morganite Crucible (India) MORC.BO for 6.54 billion rupees ($74.78 million)

** MORC jumps nearly 11% to 1,741 rupees, highest level since Dec and biggest pct gain in 2 years

** FSCO to issue 1.15 mln shares via preferential allotment for 5,674 rupees/shr

** YTD, FSCO up nearly 49%, MORC gains about 13%

($1 = 87.4610 Indian rupees)

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com;))