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An announcement from Coromandel International Limited ( (IN:COROMANDEL) ) is now available.
Coromandel International Limited’s Board of Directors approved a significant investment in its subsidiary, NACL Industries Limited, through a rights issue of equity shares amounting to Rs. 250 Crores. This move aims to strengthen NACL’s financial position and expand its market capabilities. Additionally, Coromandel plans to establish a wholly-owned subsidiary in the Philippines with an investment of up to USD 200,000, indicating its strategic intent to expand its international operations. The company also noted changes in its senior management, reflecting ongoing organizational adjustments.
More about Coromandel International Limited
Coromandel International Limited operates in the agriculture industry, primarily focusing on fertilizers, crop protection, and specialty nutrients. The company is part of the Murugappa Group and is known for its extensive market presence in India and its growing international footprint.
Average Trading Volume: 13,602
Technical Sentiment Signal: Strong Buy
Current Market Cap: 702.5B INR
Find detailed analytics on COROMANDEL stock on TipRanks’ Stock Analysis page.