Clariant Chemicals India Ltd updates on announcement from holding company
Clariant Chemicals India Ltd has been informed by the ultimate global holding Company Clariant that SABIC has recently completed the purchase of 24.99 % stake in Clariant globally as a strategic anchor shareholder.
Further, the ultimate global holding Company Clariant, announced today about its intention to combine its Additives and high value Masterbatches with parts of SABIC's Specialties business to form the Business Area High Performance Materials which will provide customers with significant benefits and strategic advantages. It also announced about its intention to divest the remaining Plastics & Coatings business by 2020, subject to necessary approvals.
The regional and country level implications of this strategic decision will be mapped out in course of the next few months.
The Company will keep the regulatory bodies, authorities & the stakeholders updated on this matter.
Shares of CLARIANT CHEMICALS (INDIA) LTD. was last trading in BSE at Rs.505.8 as compared to the previous close of Rs. 516.95. The total number of shares traded during the day was 3229 in over 127 trades.
The stock hit an intraday high of Rs. 516 and intraday low of 504.3. The net turnover during the day was Rs. 1643033.