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Our Bureau

Kolkata, April 2

Kolkata-based sick PSU Andrew Yule today again smartly moved up after a trend-defying performance yesterday. Today, it moved up to Rs 29.30 with a gain of over 9 per cent and the traded volume on the BSE was 1.32 lakh shares. On Monday, it had gained by 4.5 per cent.

The brokers and traders said that certain players were betting on the possibility of de-merger of its engineering and electrical divisions and the Centre's proposals for offloading the company's investments in Phoenix Yule (26 per cent), Tidewater Oil (26.22 per cent) and Dishergarh Power (7.14 per cent) might be incorporated in the rehab plans. There is no official announcement so far on the subject.

Company sources, however, indicated that the Government is understood to be redrawing a set of new proposals for the beleaguered PSU.

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