Shares of Bodal Chemicals slipped nearly 3 percent intraday Wednesday. The company has entered into shareholders agreement to increase its stake in Trion Chemicals.
Trion Chemicals is an associate company of Bodal Chemicals, which is already holding 42 percent stake in Trion Chemicals.
The company has acquired further stake and total holding increased to 59 percent. After the said acquisition Trion Chemicals has become subsidiary company of Bodal Chemicals.
Bodal Chemicals has acquired 29,86,095 equity shares at face value of Rs 10.
At 09:41 hrs Bodal Chemicals was quoting at Rs 126.40, down Rs 2.55, or 1.98 percent on the BSE.
The share touched its 52-week high Rs 193.60 and 52-week low Rs 110.25 on 13 July, 2017 and 09 May, 2018, respectively.
Currently, it is trading 34.71 percent below its 52-week high and 14.65 percent above its 52-week low.
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