Heubach Colorants India stock surges 36% in 2 days as Quant MF buys 0.51% stake

On June 21, Heubach Colorants India’s shares were trading at Rs 545 on NSE, higher by 16.19 percent at 10:35 am. The stock had closed at Rs 469.05 on June 20, jumping over 18 percent over the opening price.

Shares of Heubach Colorants India jumped more than 16 percent on June 21, recording surge of a whopping 36 percent in two days.

The hike in stock price comes after NSE data showed that Quant Mutual Fund bought around 1,20,000 shares, or 0.51 percent stake, of the specialty chemicals manufacturer for Rs 5.44 crore. The stocks were acquired at Rs 453.57 per share on June 20, showed exchange data.

On June 21, Heubach Colorants India’s shares were trading at Rs 545 apiece on NSE, higher by 16.19 percent at 10:35 am. The stock had closed at Rs 469.05 on June 20, jumping over 18 percent over the opening price.

In April, Heubach Colorants India’s sister firm Heubach GmbH, which is considered as the second largest pigments player globally, filed for bankruptcy in Germany. Both companies are part of the Heubach group.

“Heubach GmbH filed an application for the opening of regular insolvency proceedings over its assets with the competent insolvency court in Braunschweig and, at the same time, applied for the jurisdiction of the Braunschweig insolvency court as the group court for the German subgroup of the Heubach Group,” Heubach Colorants India had said in a stock exchange filing in April.

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