‘Sale of branded cotton seed business not to impact Monsanto India’

India Infoline News Service | Mumbai | September 10, 2017 12:45 IST

In India, the US-based multinational company operates through three companies, namely listed entity Monsanto India Ltd, Monsanto Holdings Private Ltd (MHPL) and a joint-venture company Mahyco-Monsanto Biotech Ltd (MMBL).

The company informed that the sale of cotton seeds business has no connection with Monsanto India Ltd, which is listed with the stock exchanges, the company gave its clarifications on media report appearing on leading business daily on September 8, 2017 titled “Monsanto exits cotton seeds business in India”.
 
In India, the US-based multinational company operates through three companies, namely listed entity Monsanto India Ltd, Monsanto Holdings Private Ltd (MHPL) and a joint-venture company Mahyco-Monsanto Biotech Ltd (MMBL).
 
Meanwhile, MHPL announced that it has signed an agreement with Tierra Agrotech Private Lts to pursue the sale of the branded cotton seed business, which will be effective subsequent to the necessary approvals.
 
The stock closed lower by 2.71% at Rs 2,564 per share on BSE.  Whereas the major benchmark indices Sensex closed up by 0.08% at 31,687 levels and Nifty ended up by 0.05% at 9,934 levels. The stock has attracted total traded volume of 2,908 shares and traded value of Rs 75.33 lakh on NSE. Its 52-week high stood at Rs 2,980 as on June 19, 2017 and 52-week low wa at Rs 2,230.05 as on December 30, 2016.
 
Monsanto India Limited is an agricultural company. The company is engaged in the business of production and sale of agricultural inputs, including chemicals, pesticides/herbicides and hybrid seeds. 

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