Burnpur Cement firms up on diversification plans lift

DALAL STREET SPIKES

Burnpur Cement jumped by over 13 per cent from its previous close of Rs 29.50 to touch an intraday high of Rs 35.40 and settled for a close at Rs 33.35.

A whopping 3.2 million shares were traded on the BSE counter, as against a two-week average traded quantity of 4.2 lakh shares.

The rally followed reports of the company's plans to set up a steel business under the name Burnpur Ispat. Burnpur Ispat plans to apply for iron ore mines in Jharkhand in the coming months.