India's Birla sees worst day in 6 months after court orders chairman's removal

Birla

21/09/2020 08:19

** Shares of cement maker  BRLC.NS  fall as much as 8.1% to
661.05 rupees ($9.02), in its biggest intraday pct fall in 6
months
    ** BRLC said Calcutta High Court restrained Chairman Harsh
Lodha from holding any position in co with immediate effect
    ** Lodhas to file appeal before Division Bench in Calcutta
High Court, according to Business Standard https://www.business-standard.com/article/companies/lodhas-to-file-appeal-before-division-bench-in-calcutta-high-court-120092000678_1.html#:~:text=Lodhas%20are%20gearing%20up%20to,of%20the%20Calcutta%20High%20Court
    ** Despite session's losses, stock still up 11% MTD, with
September being on course to become fifth straight month in the
black
    ** Including session's losses, stock up 12.6% YTD vs 1.9%
drop in the Nifty infrastructure index  .NIFTYINFR  and a 5%
slide on the benchmark NSE Nifty 50  .NSEI 

($1 = 73.2823 Indian rupees)

 (Reporting by Vibhuti Sharma in Bengaluru)