Bayer Cropscience hits record high; Monsanto India nears 52-week high

Bayer Cropscience and Monsanto India were up 3% each at Rs 4,242 and Rs 2,638, respectively on the BSE.

Shares of agrochemicals companies Bayer Cropscience and Monsanto India were trading higher in an otherwise subdued market after German chemical and pharma giant Bayer AG and global biotech major Monsanto on Wednesday announced that they signed a definitive merger agreement in an all-cash transaction. LINK

At 10:36 am, Bayer Cropscience was up 3% at Rs 4,242, after hitting a record high of Rs 4,380 on the BSE in intra-day trade. 
 

Monsanto India was up nearly 3% at Rs 2,638 on the BSE. The stock touched an intra-day high of Rs 2,729, nears to its 52-week high of Rs 2,745 touched on June 15, 2016. The S&P BSE Sensex was down 0.04% at 28,362.

Bayer CropScience, the India listed subsidiary of Bayer AG, is a world leader in the areas of crop protection, pest control, seeds and plant biotechnology. Monsanto India is a subsidiary of Monsanto, (USA).