Chembond Chemicals subsidiaries approve merger; Stock down 1%

13 Jan 2022 , 12:45 PM

Chembond Chemicals Limited informed the exchanges Wednesday that the Board of Directors of Chembond Polymers and Materials Limited (CPML) and Chembond Material Technologies Private Limited (CMTPL), both wholly-owned subsidiaries of the company at their respective Board Meetings held on even date, have agreed in principle to move on with the proposal of merging CPML into CMTPL.

At around 12.48 pm, Chembond Chemicals Ltd was trading at Rs218.10 per piece down by Rs2.4 or 1.09% from its previous closing of Rs220.50 per piece on the BSE.

The scrip opened at Rs220.15 and has touched a high and low of Rs220.90 and Rs216.30 respectively.