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Kiri Industries stock jumps 20% after receiving ₹6,200 Cr from DyStar stake sale
Kiri Industries shares climbed 20 percent after the company received ₹6,200 crore from the sale of its DyStar stake, strengthening its balance sheet and growth prospects.
Shares of Kiri Industries Ltd surged sharply after the company finally received ₹6,200 crore for its 37.57 percent stake in DyStar, ending a decade long legal dispute and infusing significant cash into its balance sheet. With a market capitalization of around ₹3,967 crore, the stock hit a day high of ₹734.95 per share, up about 20 percent from the previous trading session. The cash inflow opens up strategic growth opportunities for the textile and chemicals maker, which plans to allocate funds toward diversified expansion initiatives including renewable energy, EV component manufacturing, and fertilizer production as part of its long-term growth strategy.