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Cyanamid Agro: Just consolidation

CYANAMID Agro's notification to the exchanges that it has received an intimation from Vermogensverwaltungs GmbH (a subsidiary of its parent, American Home Products, USA) that it has acquired a 68.77 per cent stake in the company from two other subsidiar ies of American Home, may not have a near-term impact on the stock price of Cyanamid Agro on the domestic bourses.

This appears to be an effort at consolidating the stakes held by various subsidiaries of American Home in a single company, at the global level and may not make a material difference to the Indian company at this juncture. In July, BASF AG, German agroch emical major, completed its acquisition of the agrochemical business of American Home (known as American Cyanamid) in Europe and the US. The move is yet to be reflected in the Indian context. The Cyanamid Agro stock currently trades at Rs. 70. -- BL Res earch Bureau