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Clariant Chemicals jumps on getting nod to sell Masterbatch Business

19 Dec 2019 Evaluate

Clariant Chemicals (India) is currently trading at Rs. 344.10, up by 24.90 points or 7.80% from its previous closing of Rs. 319.20 on the BSE.

The scrip opened at Rs. 317.00 and has touched a high and low of Rs. 350.50 and Rs. 317.00 respectively. So far 4106 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 420.00 on 19-Dec-2019 and a 52 week low of Rs. 265.10 on 30-Oct-2019.

Last one week high and low of the scrip stood at Rs. 350.50 and Rs. 317.00 respectively. The current market cap of the company is Rs. 735.62 crore.

The promoters holding in the company stood at 51.00%, while Institutions and Non-Institutions held 6.15% and 42.85% respectively.

Clariant Chemicals (India) has received an approval for the sale of Masterbatch Business to PolyOne Polymers India or its affiliate in India, on a going concern basis by way of slump sale, subject to the approval of the shareholders by way of Special Resolution through Postal Ballot and all other applicable statutory approvals.

The Board of Directors of the company at their meeting held on December 19, 2019, approved the same.

Clariant Chemicals (India) is one of India's leading specialty chemicals companies and is a major player in pigments, textile chemicals and leather chemicals.

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