Shiva Cement surges 57% in four days after JSW Cement buys stake

The stock hit a record high of Rs 33.50, zoomed 57% from Rs 21.30 on June 28, 2017.

Shiva Cement has soared 20% to Rs 33.50, extending its past three day’s rally on BSE, after JSW Group Company JSW Steel increased its stake in the company to over 50% through open market purchase.

The stock was trading at its record high, zoomed 57% in past four trading sessions from Rs 21.30 on June 28, 2017.

Between June 28 and July 3, JSW Cement bought 8.03 million equity shares representing 4.11% of total paid-up equity of Shiva Cement for Rs 18.11 crore through block deals. CLICK HERE FOR BULK DEAL DETAILS

Post acquisition, JSW