Ciba India fixes record date for Scheme of Amalgamation with BASF India

The Board of Directors of BASF India Ltd. have fixed March 18, 2010 as the Record Date for the purpose of determining the shareholders of Ciba India Ltd. and Ciba Research (India) Pvt. Ltd., who will be entitled to receive equity shares of BASF India Ltd. in terms of the Scheme of Amalgamation of Ciba India Ltd, Diamond Dye-Chem Ltd. and Ciba Research (India) Pvt. Ltd. ("the Transferor Companies") with BASF India Ltd. ("the Transferee Company").

In terms of the Scheme of Amalgamation, BASF India Ltd will issue and allot 90 (Ninety) Equity Shares of Rs. 10/- each fully paid up for every 100 (Hundred) Equity Shares of the Ciba India Ltd. of Rs. 10 each fully paid up and 18 (Eighteen) Equity Shares of Rs. 10/- each fully paid up of BASF India Ltd. for every 100 (Hundred Equity Shares of the Ciba Research (India) Pvt. Ltd. of Rs. 10 each, fully paid up.

The Ciba India stock closed the day at Rs.325, up by Rs.6.10 or 1.91%. The stock hit an intraday high of Rs.329 and low of Rs.318.05.

The total traded quantity was 7841 compared to 2 week average of 23393.

The BASF India stock closed the day at Rs.386.20, up by Rs.4.90 or 1.29%. The stock hit an intraday high of Rs.395 and low of Rs.380.

The total traded quantity was 34809 compared to 2 week average of 12735.

Source : Equity Bulls

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