Birla Corporation drops after two bulk deals

Birla Corporation lost 2.3% to Rs 244 at 14:47 IST on BSE after two block deals aggregating 2.04 lakh shares were executed on BSE at 14:04 IST.

A block deal of 1.02 lakh shares was executed at Rs 250.90 per share while another block deal of 1.02 lakh shares was executed at Rs 250 per share. The two block deals constitute 0.26% of Birla Corporation's equity.

Meanwhile, the S&P BSE Sensex was down 352.86 points or 1.71% at 20,282.27.

On BSE, 2.08 lakh shares were traded in the counter as against average daily volume of 1,294 shares in the past two weeks.

The stock hit a high of Rs 250.90 and a low of Rs 240.60 so far during the day.

Birla Corporation's net profit declined 48.2% to Rs 41.58 crore on 13.3% growth in net sales to Rs 710.71 crore in Q2 September 2013 over Q2 September 2012.

Birla Corporation has products ranging from cement to jute goods, PVC floor covering, as well as auto trims (jute felt-based car interiors).

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