Henkel India hits upper circuit on Jyoti Labs deal

PTI Mumbai | Updated on March 17, 2011

Shares of Henkel India hit the upper circuit, rising by nearly 5 per cent in the morning trade on the BSE today, after FMCG player Jyothy Laboratories acquired 14.9 per cent stake in the company for Rs 60.73 crore.

On the BSE, the scrip surged by 4.96 per cent to Rs 47.60.

Jyothy Laboratories has bought 14.9 per cent or 1,73,51,686 shares at Rs 35 each of Henkel India Ltd from Tamil Nadu Petro Products Ltd (TNPL). The entire transaction is an all cash deal amounting to Rs 60.73 crore.

Market players attributed the deal as beneficial for home products maker Henkel India.

However, Jyothy Laboratories fell by 3.84 per cent to a low of Rs 221.25 on the BSE.

Published on March 17, 2011

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