Bayer ABS gets Rs 25.76cr compensation

Bayer ABS has received Rs 25.76 crore from Bayer MaterialScience AG, Germany as one-time compensation for the exclusion of polycarbonate products for optical data storage and extrusion application from the on-going agency relationship between the two firms.

According to a release issued by Bayer ABS to the BSE today, the agreement between Bayer MaterialScience AG and the company is now restricted to polycarbonate products for injection moulding applications and PC/ABS blends.

The stock has jumped over 13% (Rs 18) to Rs 148 with a huge volume of over 4.84 lakh shares.