Rallis India surges on plan to hike stake in ZWAOL to 100%

24 Nov 2016

Rallis India is currently trading at Rs. 191.70, up by 3.00 points or 1.59% from its previous closing of Rs. 188.70 on the BSE.

The scrip opened at Rs. 188.90 and has touched a high and low of Rs. 192.00 and Rs. 188.90 respectively. So far 4766 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 245.95 on 04-Oct-2016 and a 52 week low of Rs. 142.00 on 21-Jan-2016.

Last one week high and low of the scrip stood at Rs. 192 and Rs. 180.25 respectively. The current market cap of the company is Rs. 3727.00 crore.

The promoters holding in the company stood at 50.09%, while Institutions and Non-Institutions held 19.06% and 30.84% respectively.

Rallis India has inked an agreement for increasing its stake in its subsidiary Zero Waste Agro-Organics (ZWAOL), from 73.63% to 100%. Consequently, ZWAOL will become a wholly owned subsidiary of the company, on completion of the acquisition of the balance shares in ZWAOL. The company will acquire balance 26.37% stake in ZWAOL for Rs 19.49 crore.

ZWAOL is engaged in the manufacture of organic compost. The company was incorporated on November 9, 2011 and has its presence in India.

Rallis India is a major agri-solution provider company in India. The company has been associated with the farming community for the past over 160 years and continuously strives to improve farm productivity through innovative product & service offerings.

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