Bayer Cropscience, Monsanto India Shares Rally On Parents' Merger

Bayer Cropscience shares surged as much as 7 per cent to hit a fresh 52-week high of Rs 4,380 today. Buying was seen in the stock following Bayer Cropscience's parent Bayer AG decision to takeover agrochemical company Monsanto for around $66 billion. 

Bayer Cropscience is the Indian subsidiary of German-based Bayer AG and is engaged in the manufacturing of insecticides, fungicides and herbicides. 

Meanwhile, shares of Monsanto India, which is a subsidiary of US firm Monsanto, also gained over 6 per cent, reacting to the development. 

Traders say there could be a possible open offer from Monsanto to buy the shares of Monsanto India post its merger with Bayer AG. 

Bayer Cropscience shares closed 0.67 per cent higher at Rs 4,138.40 and Monsanto India shares ended 1.58 per cent lower at Rs 2,530.50. In comparison the broader Nifty ended 0.18 per cent higher.