India's Kesoram Industries hits upper circuit after block deals

Kesoram Industries

29/11/2023 09:44

** Shares of cement and clinker maker Kesoram Industries
 KSRM.NS  locked in upper circuit after rising as much as 4.98%
to 132.85 rupees
    ** Stock hits highest level since Jan. 16, 2018
    ** Over 5.5 mln shares change hands in seven blocks at a
price range of 130.10-132.85 rupees apiece
    ** A CNBC-TV18 report on Nov. 23 said UltraTech Cement
 ULTC.NS  is conducting due diligence at KSRM, exploring buying
out major shareholder's stake or its cement business
    ** Stock has hit the upper circuit thrice since then,
gaining 12.6%   
    ** Shares witnessing their most active trading session since
June. 23, 2021 on Wednesday
    ** Stock up ~122% YTD



 (Reporting by Ashish Chandra)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))