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Shares of Kesoram Industries Ltd fell as much as 7.9 per cent to Rs 89.60, their biggest intraday percentage loss since October 8.
The company engaged in cement and automobile tyre business had said on Tuesday that it will spin off its tyre business into a resulting company Birla Tyre Ltd.
More than 1.4 million shares changed hands, vs 30-day moving average of 784,399 shares. The stock had fallen 29.55 per cent this year as of last close.
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