Clariant Chemicals (India) lost 2.91% to Rs 479.95 at 9:22 IST on BSE, with the stock sliding on profit booking after 2-day 16.78% rally triggered by the company's board approving the proposal to sell land at Kolshet Road in Thane.
Meanwhile, the S&P BSE Sensex was up 70.71 points or 0.35% at 20,019.44.
On BSE, 1,100 shares were traded in the counter as against average daily volume of 53,722 shares in the past two weeks.
The stock hit a high of Rs 479.95 and a low of Rs 479.95 so far during the day.
Shares of Clariant Chemicals (India) had rallied 16.78% in two trading sessions to settle at Rs 494.35 on Wednesday, 17 July 2013, from a recent low of Rs 423.30 on 15 July 2013, after the company during trading hours on 16 July 2013, said its board approved the proposal to initiate the sale of land at Kolshet in Thane. The board also sanctioned the proposal to review options for relocating masterbatch plant from Kolshet.
Clariant Chemicals (India)'s net profit declined 22% to Rs 24.76 crore on 16% growth in net sales to Rs 277.47 crore in Q1 March 2013 over Q1 March 2012.
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Clariant Chemicals (India) is a specialty chemicals company.
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