As many as 91,821 shares changed hands in the counter on BSE.

The agreement is for two modern facilities of Sintesis Quimica, which are located on the outskirts of Buenos Aires, the Argentinian capital. This acquisition will help Punjab Chemicals to aggressively target the Latin American market.

Punjab Chemicals has been on acquisition spree. Recently, the company had acquired the balance 49% stake held by Excel Industries (Europe) in SD Agchem (Europe) NV Euro 100000, making it a wholly- owned subsidiary.

Early this year, the company had purchased 100% stake in IA & IC Chem, having a unit at Chiplun, Maharashtra, for Rs 46 lakh.

For Q2 September 2005, the company reported 32.4% growth in net profit to Rs 90lakh, on 122.8% growth in net sales to Rs 83.52 crore. The company said Q2 results are incomparable due to the amalgamation of erstwhile Alpha Drug India & STS Chemicals, with the company.