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Kirloskar Ferrous shares gain 6% on CCI approval to acquire stake in ISMT

The order of the Commission in this regard is awaited.

February 25, 2022 / 09:58 AM IST
The CCI in its meeting held on February 23, 2022, considered and approved the acquisition of stake in ISMT by Kirloskar Ferrous Industries

The CCI in its meeting held on February 23, 2022, considered and approved the acquisition of stake in ISMT by Kirloskar Ferrous Industries

 
 
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Kirloskar Ferrous Industries share price rose 6 percent intraday to Rs 198.20 on February 25 after the Competition Commission of India (CCI) approved the acquisition of stake in ISMT.

"The CCI in its meeting held on February 23, 2022, considered and approved the acquisition of stake in ISMT by Kirloskar Ferrous Industries," the company said in its release.

Kirloskar Ferrous Industries had filed an application with the CCI for obtaining the approval to the proposed acquisition of a majority stake in ISMT Limited.

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The order of the Commission in this regard is awaited.

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At 9:45am, Kirloskar Ferrous Industries was quoting at Rs 197.35, up Rs 10.60, or 5.68 percent and ISMT was quoting at Rs 47.65, up Rs 2.10, or 4.61 percent on the BSE.



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Moneycontrol News
first published: Feb 25, 2022 09:58 am
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