Rallis India advanced 1.48% to Rs 191.50 at 09:51 IST on BSE after the company signed an agreement for increasing its stake in its subsidiary Zero Waste Agro - Organics from 73.63% to 100%.
The announcement was made after market hours yesterday, 23 November 2016.Meanwhile, the S&P BSE Sensex was down 112.04 points or 0.43% at 25,939.77
On BSE, so far 4,581 shares were traded in the counter as against average daily volume of 69,440 shares in the past one quarter. The stock hit a high of Rs 192 and a low of Rs 188.90 so far during the day. The stock had hit a 52-week high of Rs 245.95 on 4 October 2016. The stock had hit a 52-week low of Rs 142 on 21 January 2016.
The mid-cap company has equity capital of Rs 19.45 crore. Face value per share is Re 1.
Consequently, Zero Waste Agro - Organics (ZWAOL) will become a wholly owned subsidiary of the company, on completion of the acquisition of the balance shares in ZWAOL. ZWAOL is into manufacture of organic compost. The cost of acquisition is Rs 19.49 crore, Rallis India said.
Rallis India's consolidated net profit rose 31% to Rs 66.52 crore on 22.11% rise in total income to Rs 552.61 crore in Q2 September 2016 over Q2 September 2015.
Rallis India is one of India's leading agrochemicals companies.
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