Ultramarine & Pigments zooms 20% as Thirumalai Chemicals hikes stake

On Thursday, December 21, 2017, Thirumalai Chemicals purchased 205,226 equity shares representing 0.7% stake in Ultramarine & Pigments at price of Rs 294.85 per share on the BSE

Ultramarine & Pigments has locked in upper circuit of 20% at Rs 354, also its 52-week high on the BSE, after Thirumalai Chemicals hike its stake in specialty chemicals company by nearly one percentage point through open market.

On Thursday, December 21, 2017, Thirumalai Chemicals purchased an additional 205,226 equity shares representing 0.7% stake in Ultramarine & Pigments at price of Rs 294.85 per share on the BSE, the bulk deal data shows.

The names of sellers not ascertained immediately.

As of September 2017, Thirumalai Chemicals held 10.43% stake in Ultramarine & Pigments, the shareholding pattern data shows.

The trading volumes on the counter more than doubled with a 102,000 shares changed hands till 01:03 PM; against an average 39,000 shares were traded in past two weeks on the BSE.

The stock is trading under ‘X’ category. The BSE had merged the groups XC and XD into new group X with effect from December 1, 2017. Three sub segments -- XC, XD and XT -- were launched in November 2015 considering companies specific characteristics such as low to moderate market capitalisation, lower contribution to overall trading turnover.

Thirumalai Chemicals was trading 3% higher at Rs 2,129 on the BSE.