Shares of Nagpur-based Murli Industries were up 20 per cent today on news that the world's third-largest producer of cement, Cemex, was in talks to buy it.
The stock hit an intra-day high of Rs 93.95 and a low of Rs 88 after opening at Rs 90 today.
Murli has a 3-million-tonne plant in Maharashtra, with plans to set up two more.
The investment-banking unit of brokerage Motilal Oswal is advising Murli Industries along with Macquarie Capital, while Bank of America-Merrill Lynch is said to be advising Cemex.
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