Clariant Chemicals jumps 5% on sale of biz units

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.

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