Balaji Amines announced that the company has been allotted 2.20 crore equity shares of Rs 10 each of Balaji Speciality Chemicals in various tranches up to March 27, 2018 aggregating Rs 660 million on preferential basis constituting 55% of the post allotment paid up equity share capital of Balaji Speciality Chemicals.
With the above mentioned investment by the company, Balaji Speciality Chemicals has become subsidiary of Balaji Amines.The stock had underperformed the market over the past one month till Mar. 28, 2018, falling 13.27% compared with the Sensex's 3.56% decline. It underperformed the market in past one quarter, declining 10.67% as against 2.60% fall in the Sensex.
Shares of the company declined Rs 7.9, or 1.38%, to settle at Rs 562.75. The total volume of shares traded was 7,477 at the BSE (Wednesday).