Chemical maker BASF India today said it has received approval from its board for the merger of Ciba India and its two affiliate firms with itself.

The board has approved the scheme of amalgamation of Ciba India Ltd and its affiliates — Diamond Dye-Chem Ltd and Ciba Research (India) Pvt Ltd — with BASF India, the company said in a filing to the BSE.

BSE  |  NSE Price

Also Read   Related Stories News Now - Ciba India appoints BSR & Co as statutory auditors - BASF up on steady number - BASF India June qtr net up 12% - Insecticides Udhampur plant to be ready by August - Rallis eyeing Rs 400-500 cr revenue from Dahej plant - 138 firms come out with flying colours

Also Read   Related Stories News Now - Markets end flat - IFC plans to invest in Malaysia's Khazanah healthcare arm - Cong leaders must work together for winning elections: Scindia - Hotel Leelaventure redeems outstanding bonds worth $41.6 mn - Ex-Galleon portfolio manager testifies against Rajat Gupta More

BASF India, a part of the German group BASF, is engaged in the production of insecticides and pesticides. Ciba India is also in the business of chemicals.

Shares of BASF India rose 9.61 per cent and were trading at Rs 321.55, while Ciba India was quoting at Rs 263.25, up 6.09 per cent in afternoon trade on the BSE.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end flat - IFC plans to invest in Malaysia's Khazanah healthcare arm - Cong leaders must work together for winning elections: Scindia - Hotel Leelaventure redeems outstanding bonds worth $41.6 mn - Ex-Galleon portfolio manager testifies against Rajat Gupta

Tags : BASF India | Ciba India | chemical-maker | pesticides   Read Business news in  Advertisements -  Journey on, We are by Your Side. Click here to know more -  2 Lac Apartments, 1 Lac House / Plots. Click here -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Leader in Passenger Car & Automobile Tyres. Click here -  1 billion in saving for Unilever without any tangles. -  A Brand New Server at a Price That Fits Your Budget. Click here -  Learn How One City is Running on FOOD SCRAPS. -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  36 Lakhs can get you a pool of Luxuries. Click here -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More