Rallis India surged over 4% to Rs 768. The stock touched an intra-day high of Rs 815 and a low of Rs 762. The counter saw trades of around 76,200 shares as against its two-week average traded quantity of 22,452 shares.
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Rallis India has soared following news of Tata Chemicals' decision to buy 35.8% of the company.
The stock opened at Rs 767 and zoomed 10.5% to a new 52-week high of Rs 815. It has soared 191% from its 52-week low of Rs 280. The stock is currently trading at Rs 793 - up 7.5%. The counter has clocked comparatively heavy volumes of 21,666 shares as against its two-week daily average trade of 22,452 shares on the BSE so far.
Tata Chemicals board has decided to increase its equity share holding in Rallis India, offering to purchase equity shares from other promter group companies.
Meanwhile, Tata Chemicals opened at Rs 264 and surged 4.5% to a high of Rs 272. It is now up 3.5% at Rs 270.
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