Clariant Chemicals jumps after receiving consideration for sale of land

Clariant Chemicals (India) surged 10.56% to Rs 958 at 10:43 IST on BSE after the company said it has received an aggregate consideration of Rs 1102.50 crore in full & final payment in connection with its agreement to sell its land in Kolshet, Thane.

The announcement was made after market hours yesterday, 31 December 2014.

Meanwhile, the S&P BSE Sensex was down 50.43 points or 0.18% at 27,448.99.

On BSE, so far 29,000 shares were traded in the counter as against average daily volume of 2,978 shares in the past two weeks.

The stock hit a high of Rs 972 and a low of Rs 901 so far during the day.

Clariant Chemicals (India) said it has received an aggregate consideration of Rs 1102.50 crore in full & final payment in connection with its agreement to sell its land located in Kolshet, Thane aggregating to about 87 acres to Ishwer Realty and Technologies (a subsidiary of Lodha Developers).

Clariant Chemicals (India) reported a net loss of Rs 1.32 crore in Q3 December 2014 compared with net profit of Rs 123.99 crore in Q3 December 2013. Net sales declined 28.5% to Rs 248.07 crore in Q3 December 2014 over Q3 December 2013.

Clariant Chemicals (India) is a specialty chemicals company.

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