Rallis shares up over 4% as co to hike stake in subsidiary

Shares of agro-chemical firm Rallis India rose over 4 per cent today after the company announced it will acquire an additional 26.37 per cent stake in its arm Zero Waste Agro-Organics for nearly Rs 20 crore.
The stock gained 4.23 per cent to Rs 196.70 on BSE.
On NSE, it climbed 4.43 per cent to Rs 196.60.
Tata group's agro-chemical firm Rallis India will acquire an additional 26.37 per cent stake in its arm Zero Waste Agro-Organics for nearly Rs 20 crore, making the company a wholly-owned subsidiary.
After the acquisition, Rallis India's stake will increase to 100 per cent in Zero Waste Agro-Organics Ltd (ZWAOL), which manufactures organic compost.

In a filing to the BSE yesterday, Rallis India informed that the company has "signed an agreement for increasing its stake in its subsidiary Zero Waste Agro-Organics Ltd from 73.63 per cent to 100 per cent.