NACL rallies 65% after pact with Coromandel

Stock rises 20% in intraday trade; up 96% in March so far

- DEEPAK KORGAONKAR

Shares of NACL Industries hit a fresh high of ₹110.85, rallying 20 per cent on the NSE on Monday amid heavy volumes. Over the past four trading days, the pesticide and agrochemical company's stock has soared 65 per cent after agri-solutions provider Coromandel International announced on March 12 that it had signed a definitive agreement to acquire a controlling stake in NACL. The stock has jumped 96 per cent from ₹56.65 on February 28, 2025.

The average trading volumes at the counter jumped over fourfold. A combined 17.9 million equity shares, representing 8.8 per cent of total equity of NACL changed hands on the NSE and BSE on Monday.

Meanwhile, shares of Coromandel, a Murugappa group company, gained 5 per cent to close at ₹1,889.4 on Monday. Over the past three days, the stock has risen 10 per cent. It hit a 52-week high of ₹1,977.1 on January 6.