Birla Corp slips 9% after HC bars Harsh Lodha from MP Birla group companies

The company is in the process of reviewing the said order of the High Court.

Shares of Birla Corporation (Birla Corp) dipped 9 per cent to Rs 662 on the BSE in the intra-day trade on Monday after the Calcutta High Court (HC) on Friday restrained Harsh Vardhan Lodha from holding any office in M P Birla group entities. The stock of cement & cement products company recorded its sharpest intra-day fall since March 23, 2020, when it had tanked 20 per cent on the BSE.

“A Single Bench of the Hon’ble High Court at Calcutta vide its order dated 18th September, 2020 in a probate proceeding to which the Company is not a