India's Binani Industries jumps; regulator rules UltraTech's bid valid

BIL Vyapar

14/11/2018 07:06

** Shares of Binani Industries Ltd  BINZ.NS  jump as much as
18.1 pct to 94.2 rupees, their highest since Sept 27
    ** The National Company Law Appellant Tribunal (NCLAT)
approved the resolution plan of UltraTech Cement Ltd's  ULTC.NS 
acquisition of Binani's cement unit  urn:newsml:reuters.com:*:nFWN1XP013
    ** NCLAT dismissed Dalmia Bharat Ltd's  DALA.NS  plea,
saying its offer for Binani was discriminatory against financial
and operational creditors, CNBC-TV18 reported  urn:newsml:reuters.com:*:nL4N1XP2Q4
    ** Co posts biggest intraday gain in 10 months, about
403,839 shares change hands vs 30-day moving avg of about 33,670
shares
    ** Stock down 42.36 pct this year, as of last close
    ** UltraTech shares rise as much as 3.87 pct, their highest
since Oct 1
    
    

 ((harish.bhaskar.thomsonreuters.com@reuters.net))