Zuari Agro Chemicals, one of the leading fertilizer conglomerates in India, witnessed a gain in share price on Tuesday after the company's wholly owned subsidiary Zuari Fertilisers and Chemicals (ZFCL) acquired additional 36.56% equity shares of Mangalore Chemicals and Fertilizers (MCFL). Post this transaction, ZFCL's shareholding in MCFL has increased to 53.03%.

With this, MCFL has become a subsidiary of ZFCL. Consequently, MCFL has also become subsidiary of Zuari Agro Chemicals, the company said.

Shares of the company are trading at Rs 216, up Rs 5, or 2.37%  at the Bombay Stock Exchange (BSE) on Tuesday at 11:47 a.m. The scrip has touched an intra-day high of Rs 216 and low of Rs 210.

Total volume of shares traded on the bourses today was lower by 97.83% to 1,483 compared with 22-day average volume of 68,300.