India's Prism Johnson hits near-10-mth high on plans to sell land, mining lease

Ramco Cements

10/07/2023 05:44

** Shares of Prism Johnson Ltd  PRIS.NS  jump as much as
5.2% to 139.50 rupees, highest since Sept. 20
    ** Building material manufacturer to sell land parcels
aggregating to 1,420.72 acres and mining lease to Ramco Cements
Ltd  TRCE.NS  
    ** Land parcels located in Andhra Pradesh, where PRIS once
planned to set up greenfield cement manufacturing plant
    ** "Current priorities do not warrant an investment in
setting up cement plant" - co
    ** PRIS logs biggest intraday pct gain since June 6
    ** About 850,000 shares change hands by 10:06 a.m. IST, 1.4x
the 30-day avg - Refinitiv Data
    ** Stock up ~27% YTD as of last close


 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))