The stock of Bayer CropScience surged 5 per cent to Rs 749.90 on the BSE with higher volumes as the company received advance payment towards its realty property in Thane.
Bayer CropScience has received Rs 260 crore as advance payment from Agile Real Estate Pvt Ltd for the proposed sale of its Thane Party, which is approximately admeasuring 100 acres.
“The company will continue to make additional appropriate disclosures as and when definitive material events in this process take place,’’ it informed the BSE.
At a board meeting on July 19, 2010 and December 22, 2010, the sale/transfer/disposal of this property was approved.