BASF India extends gain after completing sale of construction chemicals biz

"The company has received an overall consideration of Rs 595.16 crore towards the said divestiture," BASF India said

Shares of BASF India jumped 8 per cent to Rs 1,280 on the BSE on Thursday. The stock has gained 13 per cent in two days after the company completed the sale of its construction chemicals business to Master Builders Solutions for a consideration of Rs 595.16 crore. The stock of the specialty chemicals company was trading close to its 52-week high level of Rs 1,327, touched on July 3, 2019.

“The Company’s construction chemicals business transferred to Master Builders Solutions India Private with effect from July 1, 2020 after shareholders approval.  The Company has received an overall consideration