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SC orders restoration of MF units to Dalmia Bharat Group; stock zooms 11%

The Supreme Court on Tuesday ordered IL&FS Securities Services to release mutual fund units worth Rs 344 crore to the Dalmia Bharat Group

Dalmia
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In the past six months, the stock of Dalmia Bharat has zoomed 110 per cent

SI Reporter Mumbai
Shares of Dalmia Bharat surged 11 per cent to Rs 1,690.60, hitting a record high on the BSE, in the intra-day trade on Wednesday after the Supreme Court on Tuesday ordered IL&FS Securities Services (ISSL) to release mutual fund units worth Rs 344 crore to the Dalmia Bharat Group.

In August 2019, the Supreme Court had passed an interim order that Dalmia Cement, which is a subsidiary of Dalmia Bharat, may encash the securities and the said amount shall lie in fixed deposit with ISSL.

"Vide an order dated March 16, 2021, the order of August 2019, has