India's Sudarshan Chemical rises on reports of joining race to buy bankrupt rival

Sudarshan Chemical Industries

04/09/2024 06:43

** Shares of Sudarshan Chemical Industries  SDCH.NS  gain
~4%; Heubach Colorants India  HEUB.NS  down ~2%
    ** Co has likely bid for bankrupt German colourants and
pigments maker Heubach GmbH, broadcaster CNBC-TV18 reports
    ** A successful bid would also give SDCH control of Heubach
Colorants, in which Heubach GmbH has 54.4% stake, CNBC says
    ** SDCH, Heubach and HEUB did not immediately respond to
Reuters' request for comment
    ** SDCH has jumped nearly 66% since late April when Heubach
GmbH filed for bankruptcy
    ** In that period, HEUB has recovered from an initial dip to
gain about 25%

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))