ICICI Prudential Mutual Fund Buys Additional Shares Of Galaxy Surfactants For Rs 124 Crore

ICICI Prudential Mutual Fund has acquired additional shares of speciality chemical firm Galaxy Surfactants for Rs 124 crore through open market transactions on Tuesday.

ICICI Prudential Mutual Fund bought a 0.83% stake, comprising 2.97 lakh shares in the speciality chemical company for Rs 2,092 per share, according to bulk deal data available on the NSE.

ICICI Prudential Mutual Fund holds a 1.02% stake, comprising 3.59 lakh shares, in the company as of December 2024.

Earlier, on Feb. 15, K Natarajan, the managing director of Galaxy Surfactants Ltd., in an exclusive interview with NDTV Profit, reaffirmed the company’s medium- to long-term volume growth target of 6-8%, while remaining cautious over the near-term outlook.

Shares of Galaxy Surfactants closed 2.15% higher at Rs 2,092.30, compared to the 1.5% decline at the benchmark NSE Nifty 50. It has fallen 11.01% on a 12-month basis.

Nine out of the 15 analysts tracking the company have a 'buy' rating on the stock, five recommend a 'hold' and one suggests a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 33.9%.