Manali Petrochemicals witnessed a sharp rise in share price on Tuesday after the company has concluded the acquisition of Notedome of the UK, a manufacturer of Neuthane Polyurethane Cast Elastomers for Rs 1.20 billion.

The acquisition was done through its UK Subsidiary, AMCHEM Speciality Chemicals and was funded through internal resources and international banks.

Shares of Manali Petrochemicals  are trading at Rs 41.35, up Rs 3.6, or 9.54%  at the Bombay Stock Exchange (BSE) on Tuesday at 9:34 a.m.

The scrip has touched an intra-day high of Rs 41.90 and low of Rs 38.50. The total volume of shares traded at the BSE is 781,483.

Total volume of shares traded on the bourses today was higher by 472.30% to 3,760,679 compared with 22-day average volume of 657,116.