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Clariant Chemicals Surges 9% on Land Deal

Clariant Chemicals in a filing to exchanges has informed that the company has completed the sale of 87 acres of land near Mumbai to realty major Lodha Group and has received Rs 1,102.5 crore in full and final payment.
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Shares in Clariant Chemicals surged over 9 per cent to a day high of Rs 948 after the company said that it has completed a land deal with Lodha Group.

Clariant Chemicals in a filing to exchanges has informed that the company has completed the sale of 87 acres of land near Mumbai to realty major Lodha Group and has received Rs 1,102.5 crore in full and final payment.

In April, Clariant Chemicals (India) had announced sale of this land parcel to the Mumbai-based realty company for Rs 1,154 crore.

As of 9.50 a.m. shares in Clariant Chemicals traded 7.5 per cent higher at Rs 931.95 a piece, outperforming the broader Nifty, which was down 0.16 per cent.



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