Coromandel International fell 4.47% to Rs 813.50 after the counter witnessed multiple block deals in early trade today, 30 December 2020.
On the BSE, the counter clocked a volume of 72.44 lakh shares as against its two-week average trading volume of 27,000 shares. The stock lost 5.82% to hit a low of Rs 802 on BSE in initial trade today.On the NSE, the counter clocked a volume of 42.83 lakh shares compared with its average trading volume of 4.66 lakh shares in the past one quarter.
The media reported that 2.26% equity (66.91 lakh shares) worth Rs 544 crore change hands on BSE and NSE in Coromandel International counter with EID Parry being the seller. As of 30 September 2020, E.I.D. Parry India held 58.42% stake in Coromandel International.
Coromandel International operates in business of fertilizers, specialty nutrients, crop protection and retail. The company is India's second largest phosphatic fertilizer player.
On a consolidated basis, the company's net profit surged 16.9% to Rs 588.93 crore on a 5.1% decline in net sales to Rs 4611.27 crore in Q2 September 2020 over Q2 September 2019.
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