Zuari ups stake in Texmaco, Nagarjuna Fertilisers

Press Trust of India Mumbai | Updated on June 21, 2011

Fertiliser manufacturer Zuari Industries Ltd (ZIL) today said that it has raised its stake in Nagarjuna Fertilisers and Chemicals Ltd and Texmaco Ltd through open market transactions.

While ZIL increased its share in Nagarjuna Fertilisers to 6.66 per cent, the company raised its stake in Texmaco to 4.95 per cent.

ZIL earlier held 60,22,935 shares or 4.73 per cent stake in railway freight car maker Texmaco.

On June 17, it had through an open market transaction raised its stake in Nagarjuna Fertilisers to 2,75,50,314 shares or 6.43 per cent.

ZIL said in a filing to the BSE said that it has acquired 2,81,466 shares or 0.22 per cent stake in Texmaco through the open market on June 20, which has taken its total share holding to 4.95 per cent. After the acquisition, the shares of Texmaco with ZIL stands at 63,04,401, the filing added.

Zuari Industries 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 Nagarjuna Fertilisers to 6.66 per cent after it acquired 9,75,000 shares or 0.23 per cent stake through the open market on June 20.

The total shares of Nagarjuna Fertilisers with ZIL, after the acquisition stand at 2,85,25,314, it added.

Zuari 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 today closed at Rs 654, up by 2.12 per cent from its previous close at the BSE.

Published on June 21, 2011

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