In what would be a large deal in the chemical and fertiliser space, among the options is a possible merger between Mangalore Chemicals and Paradeep Phosphates
Net profit of Mangalore Chemicals & Fertilizers jumped 145.16 percent to Rs 76.17 crore in the quarter ended December 2022 as against Rs 31.07 crore during the previous quarter ended December 2021.
Zuari Agro had bought Mangalore Chemicals in 2015 and is now looking to sell shares and majority control to raise funds to repay debt, sources suggest to Moneycontrol
Siemens | ITC | Mangalore Chemicals | Arvind | Ajanta Pharma | ONGC | Info Edge | SBI | Zee Media and Power Grid are stocks, which are in news today.
Mangalore Chemicals | Suzlon Energy | ONGC | Eros | CHD Developers | NIIT Tech | L&T Finance | GMR | Bharti Airtel | Tata Steel and Power Grid are stocks | which are in news today.
On Tuesday, fair trade watchdog Competition Commission of India (CCI) had approved Zuari's open offer to acquire up to 36.56 percent stake in Mangalore Chemicals and Fertilizers Ltd (MCFL) for Rs 398.2 crore.
CNBC-TV18's Pragya Bhardwaj lists out six stocks that you should focus on.
Ushang Sheth joins in for a check on the recent midcap hits & misses.
Saroj Poddar, who holds over 16 percent in MCF, said that he was interested in both, the JV and buying out Mallya's MCF shares.
According to reports, Zuari will look to sell its 16.5 percent stake to the Mallya-owned Mangalore Chemicals & fertilizers by the end of December unless a higher bid comes along.
According to Shailesh Mehta, Deepak Fertilizers will maintain its margins or even perform better than 35 percent if the ammonia prices remain low. The company will explore all the options to increase its stake in MCF as it will be beneficial for both the companies.
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All eyes will be on Narayan Murthy's return and commentary from him as earnings season officially kicks starts with IT major Infosys reporting April-June numbers today.
Mangalore Chemicals' shares soared 10 percent on the back of expectations of the firm being a target for takeover. Zuari Fertilisers and Deepak Fertilisers have increased their stakes recently.
Sharmila Joshi of Peerless Securities recommends buying Berger Paints with a target price of Rs 248 and Rolta India with a target price of Rs 62.50.
Gautam Sinha Roy of Motilal Oswal Securities told CNBC-TV18 that HCL Tech will be his top pick as the earnings season starts next week.
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Himanshu Nayyar, Analyst Agri Sector, Quant told CNBC-TV18 that he is is cautious on getting into Mangalore Chemicals and recommends buying Deepak Fertilisers with long term perspective.
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SP Tulsian of sptulsian.com says he is positive on United Spirits, but the stock will see some profit booking at Rs 2500-2550.
SP Tulsian of sptulsian.com advises to buy Mangalore Chemicals with a target price of Rs 48.50 and Marico with a target price of Rs 215.
SP Tulsian of sptulsian.com recommends to buy Mangalore Chemicals with a day target of Rs 45.50 and buy Edelweiss Financial with a day target of Rs 33.50.