DCM Shriram Inds jumps after securing license

DCM Shriram Industries surged 12.42% to Rs 183.30 at 13:31 IST on BSE after the company said it has been granted industrial licences by Department of Industrial Policy and Promotion.

The announcement was made during market hours today, 3 October 2018.

Meanwhile, the S&P BSE Sensex was down 192.32 points or 0.53% at 36,333.82

On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 22,000 shares in the past two weeks. The stock hit a high of Rs 187.70 and a low of Rs 166 so far during the day. The stock had hit a 52-week high of Rs 370 on 1 November 2017. The stock had hit a 52-week low of Rs 125.05 on 28 June 2018.

DCM Shriram Industries said the company has been granted industrial licences by Department of Industrial Policy and Promotion (DIPP). The licence is for manufacture of communications equipment and network centric warfare enablers including containers and radio relay shelters and for manufacture of opto electronic devices, etc. for tanks and vehicles. The period for approval/license is / was valid for 15 years.

DCM Shriram Industries is based in Northern India with a portfolio of products comprising of sugar, alcohol, fine chemicals and rayon tyrecord.

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