BASF India shares rose 5.85 per cent to Rs 310.5 on board’s approval for merger of Ciba India with its two affiliate firms (Diamond Dye-Chem and Ciba Research India). Under the deal, 90 BASF India shares will be given for every 100 Ciba India shares and 18 shares of BASF will also be issued for every 100 Ciba Research shares.
The date for amalgamation has been fixed at February 1, 2010. The stock made an intraday high of Rs 337 and a low of Rs 287 with trading volumes of 1.35 lakh shares.
