Business Standard

Odisha Cement slips 6% on illegal transfer of MF units worth Rs 344 crore

The stock slipped 6 per cent to Rs 1,141 on the BSE in intra-day trade on Thursday after the company informed about illegal transfer of mutual fund units worth Rs 344 crore by Depository Participant.

Representative Image
Premium

Representative Image

SI Reporter Mumbai
Shares of Dalmia Bharat Group company Odisha Cement slipped 6 per cent to Rs 1,141 apiece on the BSE in intra-day trade on Thursday, after the company informed regulators about the illegal transfer of mutual fund units worth Rs 344 crore by a Depository Participant (DP).

“The certain mutual fund units, valued at approx. Rs 344 crore have been illegally and unauthorisedly transferred by the Depository Participant ("DP”) from the demat account(s) held by our erstwhile subsidiaries, OCL India and Dalmia Cement East Limited,” Odisha Cement said in a regulatory filing.

The company said it has already reported the matter

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 28 2019 | 1:37 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com