Nagarjuna Fertilizers locked 5% upper circuit on buyout report

There were pending buy orders for 7.46 million shares on the counter on BSE and NSE at 11:52 am.

Nagarjuna Fertilizers and Chemicals hit its upper circuit at Rs 12.84, up 5% on BSE on back of heavy volumes on reports that Coromandel International is in talks to buy the company.

The trading volumes on the counter more than doubled. A combined 381,465 shares changed hands and there were pending buy orders for 7.46 million shares on BSE and NSE at 11:52 am.

The stock of Coromandel International too trading 2% higher at Rs 322 after hitting high of Rs 330 on BSE in intra-day trade. Around 202,500 shares changed hands on both the exchanges.

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