Bayer CropScience trades higher on getting nod to sell traded seeds business to Crystal Crop Protection
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Bayer CropScience is currently trading at Rs. 5261.05, up by 66.00 points or 1.27% from its previous closing of Rs. 5195.05 on the BSE.
The scrip opened at Rs. 5211.00 and has touched a high and low of Rs. 5279.55 and Rs. 5211.00 respectively. So far 227 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 6127.45 on 13-Aug-2021 and a 52 week low of Rs. 4928.25 on 25-Mar-2021.
Last one week high and low of the scrip stood at Rs. 5374.70 and Rs. 5175.00 respectively. The current market cap of the company is Rs. 23666.51 crore.
The promoters holding in the company stood at 71.43%, while Institutions and Non-Institutions held 14.31% and 14.26% respectively.
Bayer CropScience’s board of directors has approved the sale of its traded seeds business related to cotton, millet, mustard and sorghum crops along with real estate property owned by the company at Patancheru, Telangana, to Crystal Crop Protection on a slump sale basis for a total consideration of Rs 62 crore.
The transaction is subject to the fulfillment of agreed conditions before the closing date. Until the closing of the transaction, the company will continue to act as a distributor for these crops. The company will continue to act as distributor for crops which are not part of these sales. The revenue from traded seeds business for above crops accounts for 1.3 per cent of the revenue from operations of the company for the Financial Year 2020-21.
Bayer CropScience is a world leader in the areas of crop protection pest control seeds and plant biotechnology. The company offers comprehensive solutions for modern sustainable agriculture and non-agricultural applications.
