The board of Clariant Chemicals (India) on Wednesday approved a buyback proposal of 35.79 lakh equity shares of ₹10 each (representing 13.42 per cent of the total equity capital), from all the shareholders of the company on a proportionate basis through a tender offer. The company offers ₹950 a share for the buyback. The board also approved the sale of the industrial consumer specialist business to Clariant India Pvt Ltd on a going concern basis for ₹42 crore. The buyback proposal would be subject to approval of the shareholders. Shares of Clariant Chem closed at ₹977.25 on the NSE, down 0.5 per cent.

Indoco Remedies Ltd has informed BSE that the company's stock of finished goods and samples at its CWH godown in Indore have been damaged due to fire. The company, which is engaged in manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients in India, said the goods at the godown have been insured adequately. The company is in the process of assessing the damage and lodging a claim with the insurance company. Shares of Indoco Remedies slipped 0.5 per cent to ₹357.75 on the BSE.

The board of directors of Pincon Spirit has decided to launch orange-flavoured GIN, under the brand name of ‘Ruby Gold—GIN’ in West Bengal on Friday. Actress Raima Sen will launch the new brand at a press conference in Kolkata. The company will announce its strategic expansion plans on occasion. Shares of Pincon Spirit gained 0.9 per cent to ₹107.5 on the BSE.

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