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Zuari increases stake in Nagarjuna Fertilisers and Texmaco

Zuari increases stake in Nagarjuna Fertilisers and Texmaco
PTI
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First Published: Tue, Jun 21 2011. 06 38 PM IST
Updated: Tue, Jun 21 2011. 06 38 PM IST
Mumbai: Fertiliser manufacturer Zuari Industries Ltd (ZIL) on Tuesday said that it has raised its stake in Nagarjuna Fertilisers and Chemicals Ltd (NFCL) and Texmaco Ltd through open market transactions.
While ZIL increased its share in NFCL to 6.66%, the company raised its stake in Texmaco to 4.95%.
ZIL earlier held 60,22,935 shares or 4.73% stake in railway freight car maker, Texmaco.
Earlier on 17 June , it had through an open market transaction raised its stake in NFCL to 2,75,50,314 shares or 6.43%.
The company (ZIL) in a filing to the Bombay Stock Exchange (BSE) said that it has acquired 2,81,466 shares or 0.22% stake in Texmaco through the open market on 20 June , which has taken its total share holding to 4.95%.
After the acquisition, the total shares of Texmaco with ZIL stands at 63,04,401, the filing added.
Both ZIL and Texmaco belong to the K K Birla group.
In a separate filing to BSE, ZIL said that it has further increased its stake in NFCL to 6.66% after it acquired 9,75,000 shares or 0.23% stake through the open market on 20 June .
The total shares of NFCL with ZIL, after the acquisition stand at 2,85,25,314, it added.
ZIL manufactures urea and complex fertilisers and has forayed into cement, hybrid seeds, engineering consultancy, financial services and oil tanking through subsidiaries and joint ventures.
Shares of the company on Tuesday closed at Rs 654, up by 2.12% from its previous close at the BSE.
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First Published: Tue, Jun 21 2011. 06 38 PM IST