Read more about Nifty trades above 15,650; NSE VIX slumps to 15 mark on Business Standard. The domestic equity benchmarks continued to trade with decent gains in morning trade. The Nifty was trading above the 15,650 mark. Realty and media stocks were in demand.
Rossari to acquire Unitop Chemicals equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Read more about Benchmarks end near day s high; VIX drops over 8% on Business Standard. The domestic equity benchmarks ended with strong gains on Thursday. The Nifty closed near the 15,700 mark. Capital goods shares advanced for fourth day.
Speciality-Chemicals manufacturer Rossari Biotech on Wednesday announced the acquisition of Unitop Chemicals, a supplier of surfactants, emulsifiers, and specialty chemicals, for Rs 421 crore. Rossari will be acquiring 100 per cent of the equity capital of Unitop Chemicals, the company said in a statement. The company further stated that 65 per cent of the equity share capital will be acquired upon closure of the transaction, and the balance 35 per cent over the next two years. The total consideration for the acquisition of a 100 per cent equity stake is Rs 421 crore. The funds for this acquisition will be through cash on the balance sheet.