India's Andhra Cements down; top shareholder plans stake sale at 21% discount

Sagar Cements

27/02/2024 04:04

** Shares of Andhra Cements  ANDC.NS  fall as much as 5.2%
to 105 rupees 
    ** Sagar Cements  SGRC.NS , top shareholder of ANDC, plans
to sell up to 5% stake in co at a floor price of 90 rupees 
    ** Floor price at a 21% discount to ANDC's closing price on
Monday
    ** ANDC set for worst monthly fall since June 2023
    ** Stock down 2.6% YTD after falling for two straight years
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))