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Zuari Industries further hikes stake in NFCL, Texmaco

24 Jun 2011 Evaluate

Zuari Industries (ZIL) has further increased its stake in Nagarjuna Fertilisers and Chemicals (NFCL) and Texmaco through open market transactions. The company increased its stake in NFCL to 6.79% while its stake in Texmaco rose to 5.01%.

Till June 20, ZIL held 2,85,25,314 shares or 6.66% in NFCL. The company has acquired 4,75,716 shares or 0.11% stake and 1,00,000 shares or 0.02% stake in NFCL on June 21 and June 22 respectively, through the open market. Pursuant to the acquisition, the total shares of NFCL with ZIL stands at 2,91,01,030.

Similarly, ZIL held 4.95% or 63,04,401 shares in Texmaco till June 20. The company has increased its stake in Texmaco to 5.01% after it acquired 62,662 shares or 0.05% stake and 13,889 shares or 0.01% stake through the open market on June 21 and June 22, respectively. The total shares of Texmaco with ZIL, after the acquisition stand at 63,80,952.

Earlier, ZIL had on June 17 and June 20 bought 0.09% and 0.23% stake, respectively, in NFCL. Likewise, on June 20, it had bought 0.22% stake in Texmaco. Both the company's are part of the newly launched Adventz group.

Zuari Industries, part of the K.K. Birla Group, was incorporated as Zuari Agro Chemicals to manufacture urea and complex fertilizers. The company forayed into various business areas such as cement, furniture, hybrid seeds, engineering consultancy, financial services, and oil tanking through a route of subsidiaries and joint ventures. 

Nagarjuna Fertilizers and Chemicals (NFCL) is a leading manufacturer and supplier of plant nutrients in India.

Texmaco, a part of the K K Birla Group, is a leading engineering complex in Eastern India engaged in a diversified range of precision and heavy engineering products.

Zuari Industries Share Price

271.85 6.10 (2.30%)
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