PCBL edges higher on getting CCI approval to acquire 100% stake in Aquapharm Chemicals
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
PCBL is currently trading at Rs. 255.05, up by 0.30 points or 0.12% from its previous closing of Rs. 254.75 on the BSE.
The scrip opened at Rs. 254.80 and has touched a high and low of Rs. 258.40 and Rs. 254.60 respectively. So far 59310 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 283.50 on 05-Dec-2023 and a 52 week low of Rs. 108.05 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 258.75 and Rs. 246.55 respectively. The current market cap of the company is Rs. 9670.59 crore.
The promoters holding in the company stood at 51.41%, while Institutions and Non-Institutions held 16.08% and 32.51% respectively.
Anti-trust regulator Competition Commission of India (CCI) has approved speciality chemicals major PCBL’s proposed acquisition of a 100 per cent stake in Aquapharm Chemicals. The CCI has granted its approval to the deal under the green channel route. Under the green channel route, a transaction that does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on being intimated to the fair-trade regulator.
The transaction relates to PCBL's proposal to acquire 100 per cent equity share capital of Aquapharm Chemicals from the existing shareholders of the company i.e., (members of Desai Group and Mangwani Group). After the completion of the transaction, Aquapharm Chemicals will be a wholly-owned subsidiary of PCBL.
