Kiri Dyes at 52-week high on German buy plans

The stock finally ended at Rs 552, up 5% from its previous close. The counter witnessed trades of 821,983 shares on the BSE as compared to the two-week daily average traded volumes of 87,301 shares.
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(Updated at 1027hrs)

Kiri Dyes has zoomed to a fresh 52-week high this morning on plans to acquire German-major Dystar.

The stock opened at Rs 535, and soon zoomed to a fresh 52-week high of Rs 568. The stock is now up 5.6% at Rs 556. The counter has seen trades of around 298,327 shares as against its two-week average traded volume of around 87,301 shares on the BSE.

The stock has zoomed a whopping 45% in the last one month, and is up over 20% in the last on week.

The deal size is estimated to be around Rs 698-873 crore. The acquisition will make this Ahmedabad-based company a global textile-chemical giant.