Clariant Chemicals up 5% on 87-acre land sale news
"The company has shortlisted four Mumbai-based real estate developers for selling its 87-acre land parcel in Thane," a media report said quoting unnamed sources.
October 22, 2013 / 13:46 IST
Investors are buying shares of Clariant Chemicals on a media report that the speciality chemicals maker has shortlisted bidders for sale of its Thane land. The stock gained 5 percent in intraday trade on Tuesday.
"The company has shortlisted four Mumbai-based real estate developers for selling its 87-acre land parcel in Thane. Kalpataru Group, Oberoi Realty, Runwal Group and Lodha Group are now in the running for the plot, which has a development potential of 6 million square feet," a media report said quoting unnamed sources.According to a report, Clariant Chemicals is hoping to raise Rs 1,500 crore through the sale.Meanwhile, the company has sold/transferred the business of textile chemicals, paper specialties and emulsions to Archroma India for Rs 209.15 crore as on September 30, 2013 as a going concern.At 13:16 hours IST, the stock was trading at Rs 533.75, up 3.90 percent on the BSE. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
