You are here: Home » Markets » News
Business Standard

Shiva Cement surges 57% in four days after JSW Cement buys stake

The stock hit a record high of Rs 33.50, zoomed 57% from Rs 21.30 on June 28, 2017.

SI Reporter  |  Mumbai 

Cement worker

has soared 20% to Rs 33.50, extending its past three day’s rally on BSE, after JSW Group Company JSW Steel increased its stake in the company to over 50% through open market purchase.

The stock was trading at its record high, zoomed 57% in past four trading sessions from Rs 21.30 on June 28, 2017.

Between June 28 and July 3, bought 8.03 million equity shares representing 4.11% of total paid-up equity of for Rs 18.11 crore through block deals. CLICK HERE FOR BULK DEAL DETAILS

Post acquisition, JSW Cement's shareholding in increased to 54.44% from 50.33%.

has acquired control over and will become the promoter of the

At 10:25 am; was trading 19% higher at Rs 33.20 on back of heavy volumes. Around 9.95 million shares have already changed hand on the counter against an average 2.93 million shares that were traded daily in past two weeks on BSE.

First Published: Tue, July 04 2017. 10:33 IST