Bayer CropScience surges on shareholders' nod for land sale

PTI Mumbai | Updated on April 01, 2011

Shares of Bayer CropScience Ltd jumped by nearly 9 per cent in the early trade on the BSE today, buoyed by the company entering into an agreement to sell 100 acres of land to Agile Real Estate Pvt Ltd for Rs 260 crore.

The company, which is engaged in the agrochemicals business, rose 8.98 per cent to an early peak of Rs 999 on the Bombay Stock Exchange. In a similar fashion, the stock surged by 13.71 per cent to touch an early high of Rs 1,042 on the National Stock Exchange.

During the pre-noon session, the scrip was trading up by 3.09 per cent at Rs 945 on the BSE and 3.21 per cent at Rs 945.80 on the NSE.

In a filing to the stock exchange on Thursday after the market closed, the company said its shareholders had already given their nod through a postal ballot to sell the land located at Kolsher Road, Balkum Village, in Thane.

Published on April 01, 2011

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