Kesoram Industries extends rally on talk of demerger; zooms 65% in 3-weeks

The stock moved higher by 8% to Rs 99, rallying 65% from Rs 60 as compared to a 2.6% rise in the S&P BSE Sensex, since November 13, 2018.

Shares of Kesoram Industries has moved higher by 8% to Rs 99, extending its past three weeks rally on the BSE after media report suggest that the company may demerge its loss-making tyre unit by the end of December.

Since November 13, post-September quarter results (Q2FY19), the stock zoomed 65% from Rs 60, as compared to a 2.6% rise in the S&P BSE Sensex. Kesoram Industries had reported a net loss of Rs 963 million in Q2FY19 against loss of Rs 1,396 million in the same quarter previous fiscal. It posted a net loss of Rs 634 million in