ITD Cementation India falls as top shareholder explores divestment

Cemindia Projects

04/07/2024 05:25

** Shares of ITD Cementation India  ITCM.NS  down 7% at 533
rupees
    ** Stock marks steepest decline in over a month
    ** ITCM said its top shareholder Italian Thai Development
Public Co was exploring a potential divestment
    ** Process is at a preliminary stage and no decision has
been made, co adds
    ** Italian Thai Development holds a near 47% stake in co, as
per exchange data
    ** More than 2 mln shares traded, vols cross 30-day avg of
1.53 mln in first half hour of trading
    ** Still, stock is up nearly 90% so far in 2024

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))