DCM Shriram shares fall on land sale

PTI Mumbai | Updated on March 12, 2018 Published on June 25, 2014

Shares of DCM Shriram pared their opening trade gains on the back of a land sale.

After hitting a 52-week high of Rs 161.35 in the opening trade, up by over two per cent, the stock fell into the negative zone in late morning trade.

The stock fell to an intra-day low of Rs 155.80, below its previous close of nearly Rs 157 per share, as profit-booking took place at higher levels.

The stock has rallied nearly 25 per cent so far this month.

The company had announced last evening after the close of trading hours that it has its textile spinning unit, Swatantra Bharat Mills, in Rajasthan as a running business for a lumpsum consideration of Rs 17.13 crore.

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Published on June 25, 2014
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