EID Parry India Ltd has sold shares in Coromandel International Ltd to reduce debt

EID Parry India Ltd has sold today 58,50,000 equity shares (Fifty Eight Lakhs and Fifty Thousand Shares) of Rs.1 each/- held in Coromandel International Limited (Coromandel) in the open market at a price of Rs. 629.1910 per share. Post the abovementioned sale, the Company holds 17,13,05,580 shares of Rs.1/- each representing 58.48% of the paid-up capital of Coromandel.

The proceeds of sale will be used to bring down the debt of the company.

Shares of E.I.D.-PARRY (INDIA) LTD. was last trading in BSE at Rs.215.2 as compared to the previous close of Rs. 195.3. The total number of shares traded during the day was 143765 in over 4234 trades.

The stock hit an intraday high of Rs. 221.85 and intraday low of 197.85. The net turnover during the day was Rs. 30566651.

Shares of COROMANDEL INTERNATIONAL LTD. was last trading in BSE at Rs.652.7 as compared to the previous close of Rs. 644.4. The total number of shares traded during the day was 17357 in over 1677 trades.

The stock hit an intraday high of Rs. 667.8 and intraday low of 644. The net turnover during the day was Rs. 11386902.

Source : Equity Bulls

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