Zuari Fertilisers And Chemicals

Mangalore Chemicals and Fertilisers (MCFL) shares jumped nearly 17 percent intraday Wednesday after shareholders rejected transaction with Zuari Agro Chemicals (ZACL).

Mangalore Chemicals at record high post Zuari's stake hike

Zuari has bought an additional 2.5 percent stake (29.94 lakh shares) in Mangalore Chemicals at Rs 67.98 a share Thursday. On Wednesday, it purchased 41.43 lakh equity shares (3.5 percent of total outstanding equity shares) at Rs 61.01 apiece.

Mangalore Chemicals: SBI sells Rs 3.9 cr worth of shares

Top lender State Bank of India sold 7,07,729 equity shares (worth of Rs 3.89 crore) of Mangalore Chemicals and Fertilisers at Rs 55.02 apiece. In last three sessions, the stock dropped more than 13 percent after rising 56 percent in previous seven sessions.

Bombay High Court allows SBI to sell USL shares

The Bombay High Court on Tuesday rejected UB Holdings's plea to restrain State Bank of India (SBI) from selling shares of its group company United Spirits (USL). Those shares were pledged with the lender, which had lent around Rs 1,500 crore to Kingfisher Airlines, the aviation arm of the group.