Nagarjuna Fertilisers and Chemicals is up by 5%, and has hit its upper circuit at Rs 12.84 on reports that Coromandel International is in talks to buy the company. The stocks witnessed a huge spurt in volumes by over 1.74 times.
Whereas, Coromandel International is trading up by 2% at Rs 320 per share. The stock hit a intraday high of Rs 329 per share and intraday low of Rs 320.65 per share. Coromandel International in a period of one year has delivered 86% returns and has outperformed the BSE Mid Cap and Nifty Commodities indices over the same tie span.
Coromandel International Limited is engaged in the manufacture and trading of farm inputs consisting of fertilizers, crop protection, specialty nutrients and organic compost. The company's business divisions include fertilizers, specialty nutrients, crop protection and retail.