Best Agrolife up 15%

Best Agrolife, a small cap agrochemical stock is the top gainer on the BSE since the opening bell today; the stock price opened with an upward gap of 2.5% at Rs.469 and soon jumped up to an intraday high at Rs.527.90, a rise of more than 15%. Its 20% UC for the day stands at Rs.549.70.

The company over the long weekend, announced the acquisition of Sudarshan Farm Chemicals India Pvt. Ltd. (SFCL), obtaining 100% stake through cash consideration, with an estimated enterprise value (EV) of Rs.139 crore.

This acquisition is primarily for R&D, IP portfolio, backward-integrated technical manufacturing expertise and growing the brand business more effectively.

In mid-Jan, investor, Ashish Kacholia brought down his stake from 2.25% in the company to 1.36%.

And two weeks ago, the company had secured registration for its formulation tailored for paddy cultivation, which is plans to commercially make and sell in May’24.

In early-Dec, the company had acquired 99% stake in Kashmir Chemicals, aimed at expanding its manufacturing capacity in response to the growing market demand for branded agrochemical products and formulations.