Henkel India up 5 pc, hits upper circuit on Jyoti Lab deal

MUMBAI: Shares of Henkel India today hit the upper circuit, rising by nearly 5 per cent in the morning trade on BSE, after FMCG player Jyothy Laboratories acquired 14.9 per cent stake in the company for Rs 60.73 crore.

Henkel India surged by 4.96 per cent to Rs 47.60 on the Bombay Stock Exchange.

Jyothy Laboratories has bought 14.9 per cent or 1,73,51,686 shares at Rs 35 each of Henkel India Ltd from Tamil Nadu Petro Products Ltd (TNPL).

The entire transaction is an all cash deal amounting to Rs 60.73 crore.

Market players attributed the deal as beneficial for home products maker Henkel India.

However, Jyothy Laboratories fell by 3.84 per cent to a low of Rs 221.25 on BSE.

Meanwhile, the BSE benchmark index Sensex was trading down by 119.05 points at 18,239.64 level at 10:15 hrs.