Clariant Chemicals gains on share buyback plan

Clariant Chemicals (India) rose 1.9% to Rs 836.75 at 11:42 IST on BSE after the company said it will seek shareholders' nod for buyback of equity shares of the company aggregating to Rs 340 crore at the price of Rs 950 per share.

The announcement was made after market hours yesterday, 8 June 2015.

Meanwhile, the S&P BSE Sensex was up 6 points or 0.02% at 26,529. 09.

On BSE, so far 13,000 shares were traded in the counter as against average daily volume of 3,823 shares in the past two weeks.

The stock hit a high of Rs 848 and a low of Rs 832.45 so far during the day. The stock had hit a record high of Rs 1,185 on 15 January 2015. The stock had hit a 52-week low of Rs 766 on 16 June 2014.

Clariant Chemicals (India)'s net profit fell 29.6% to Rs 10.65 crore on 17.7% decline in net sales to Rs 225.55 crore in Q1 March 2015 over Q1 March 2014.

Clariant Chemicals (India) is a manufacturer of specialty chemicals and is main player in pigments and Masterbatches.

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