Shares of Clariant Chemicals rallied as much as 8 percent to touch an intraday high of Rs 673 on Thursday on selling business units to SK Capital.
Clariant, the major shareholder of Clariant Chemicals (India), said SK Capital has agreed to purchase the business units Textile Chemicals, Paper Specialties and the Business Line Emulsions from Clariant. "This will include the transfer of the whole R&D, applications, sales and marketing organisation along with production plants and sites worldwide," the company added.
Clariant Chemicals (India) has production facilities for manufacture of textile chemicals and produces paper specialties and emulsion products at its Roha plant.
At 13:57 hours IST, the stock rose 2.53 percent to Rs 638.50 amid heavy volumes on the Bombay Stock Exchange.
Trading volumes increased quite significantly to 50,249 shares as compared to its five day average of 3,072 shares.
Clariant Chem stock price
On November 24, 2015, Clariant Chemicals India closed at Rs 735.10, down Rs 14.3, or 1.91 percent. The 52-week high of the share was Rs 1185.00 and the 52-week low was Rs 715.00.
The company's trailing 12-month (TTM) EPS was at Rs 381.53 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 1.93. The latest book value of the company is Rs 603.26 per share. At current value, the price-to-book value of the company is 1.22.
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