Shares of Clariant Chemicals (India) today surged over 6 per cent after the company announced sale of 87 acres of land near here to realty firm Lodha Developers for Rs 1,154 crore.
Clariant Chemicals’ stock ended 6.08 per cent higher at Rs 700.15 on the BSE. In intra-day, the scrip climbed 12.4 per cent to 52-week high of Rs 741.90.
At the NSE, the stock rose by 6.28 per cent to Rs 700.10.
“The company has entered into an agreement to sell its land located in Kolshet, Thane, aggregating to about 87 acres to Ishwer Realty and Technologies Pvt Ltd for an aggregate consideration of Rs 1,154.25 crore,” the company informed bourses.
Ishwer Realty and Technologies Pvt Ltd is a subsidiary of Mumbai-based Lodha Developers Pvt Ltd.
Clariant Chemicals (India), the Indian arm of the Swiss-based Clariant International, had taken shareholders’ approval to sell this land in July last year.