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The board of directors of Chambal Fertilisers & Chemicals has approved the transfer of its textile business - Birla Textile Mills located in Himachal Pradesh - to Sutlej Textiles and Industries, as a going concern on slump sale basis. The parties are currently negotiating and finalising the terms of the business purchase agreement and the other transaction documents, and will sign these documents as soon as there is consensus, the company said in a notification to the stock exchanges. Shares of Chambal Fertilisers edged up 0.5 per cent at ₹65.90 on the NSE.
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