Clariant Chemicals zooms on receipt of full payment for Thane land

The company has received Rs Rs. 1,102.50 crore as full & final payment for its 87-acre land located in Kolshet, Thane

Shares of Clariant Chemicals zoomed over 11% to Rs 964 after the company announced that it has received full and final payment for its Thane land.

The Company has received an aggregate consideration of Rs. 1,102.50 crore in full & final payment in connection with its agreement to sell its land located in Kolshet, Thane aggregating to about 87 acres to M/s. Ishwer Realty and Technologies Private Limited (a subsidiary of Lodha Developers Private Limited), Clariant Chemicals said in a release late Wednesday.

The stock opened at Rs 901 and touched a high of Rs 972 on the BSE. At 11:10AM, nearly 120,000 shares were traded on both the stock exchanges.