03-07-2025
Coromandel International shares gain 4% after CCI approves NACL acquisition
Coromandel International
's share price rose 4% to Rs 2,369.40 on Thursday, July 3, 2025, after the company announced a major regulatory approval. The rally lifted Coromandel's market capitalisation to Rs 69,200 crore.
In a regulatory filing, the company stated that the
Competition Commission of India
(CCI) has approved its proposed acquisition of a majority stake in
NACL Industries Limited
.
The deal involves the purchase of approximately 10.69 crore equity shares, representing 53.13% of NACL's paid-up capital, from KLR Products Ltd, Mrs. K. Lakshmi Raju, and Bright Town Investment Advisor Pvt Ltd, under a Share Purchase Agreement (SPA).
As part of the overall transaction, Coromandel will also acquire an additional 11,000 equity shares — 5,500 each from public shareholders Krishi Rasayan Exports Pvt Ltd and Agro Life Science Corporation — through separate agreements signed in March 2025.
Stock Performance and Technical Overview
Over the past 52 weeks, Coromandel shares have traded between a low of Rs 1,499.70 and a high of Rs 2,548.00, reflecting a strong uptrend and investor interest.
On the valuation front, the stock is trading at a price-to-earnings (P/E) ratio of 32.41 and a price-to-book (P/B) ratio of 5.97, suggesting a relatively premium valuation compared to sector averages.
From a technical standpoint, the Relative Strength Index (RSI-14) is currently at 45.8, indicating that the stock is neither overbought nor oversold. Moreover, Coromandel is trading above all eight key Simple Moving Averages (SMAs) — from the 5-day to the 200-day — highlighting continued bullish momentum in the stock.
