Coromandel Intl acquires 42.2% stake in Sabero Organics

Coromandel International touched an intraday high of Rs 330 and an intraday low of Rs 316.55. At 09:21 hrs the share was quoting at Rs 330, up Rs 14.85, or 4.71% on the NSE.

Coromandel International has acquired 42.2% stake in Sabero Organics at Rs 160 per share plus non-compete fee, reports CNBC-TV18.

Coromandel International will pay Rs 160 and Rs 38.47 as a non-compete fee. Coromandel board has approves open offer of up to 31% for Sabero.

It was trading with volumes of 9,921 shares. In the previous trading session, the share closed up 2.32% or Rs 7.15 at Rs 315.15.

Sabero Organics Gujarat touched a 52-week high of Rs 97.90. At 09:20 hrs the share was quoting at Rs 97.90, up Rs 8.90, or 10% on the NSE.
 
There were pending buy orders of 87,966 shares, with no sellers available. It was trading with volumes of 327,558 shares.