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Mangalore Chemicals and Fertilizers Limited (MCF) said its promoter company Kingfisher Finvest India Ltd has increased its stake from 1.96 per cent to 2.01 per cent.
In a filing to the exchanges, MCF said its promoter, Kingfisher Finvest India Ltd, purchased 14,600 shares on the BSE for Rs 8.96 lakh and another 47,000 shares for Rs 28.90 lakh on the NSE on July 26 through the open market route.
This action from the promoter of the company follows MCF being targeted by rivals Deepak Fertilisers and Petrochemicals Corp and Zuari Industries. Deepak Fertilisers has picked up over 24 per cent equity in MCF while Zuari Industries hiked its stake to about 16 per cent last month.
Kingfisher Finvest India, similarly, has increased its stake in McDowell Holdings Ltd.
McDowell Holdings told exchanges that its promoter, Kingfisher Finvest India Ltd, purchased 7,042 shares on the BSE for Rs 1.69 lakh and another 2,958 shares for Rs 71,043.65 on the NSE on July 25 through the open market route.
With this, the Kingfisher Finvest India holding in McDowell Holdings has increased from 14.42 per cent to 14.49 per cent.
McDowell Holdings shares closed at Rs 20.75, down by 1.05 per cent over the previous days close on the BSE.
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