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Shares of Kesoram Industries today surged over 7 per cent as the company sold stakes worth Rs 428.53 crore in several listed companies, including Aditya Birla Nuvo and Grasim Industries, through open market transactions as part of its efforts to enhance cash inflow.
The stock jumped 7.33 per cent to Rs 109 on the BSE. On the NSE, shares of the company soared 7.13 per cent to Rs 108.90.
The stock had gained 10 per cent in the previous session also.
The shares were acquired by Camden Industries Ltd, as per BSE’s block deal data yesterday.
Among the companies whose stakes were offloaded are Aditya Birla Fashion and Retail Ltd, UltraTech Cement Ltd, Century Enka Ltd, Century Textiles and Industries Ltd, Mangalam Cement Ltd and Mangalam Timber Products Ltd.
While stake worth Rs 46.88 crore was sold in Aditya Birla Fashion and Retail Ltd, Kesoram Industries off-loaded stake worth Rs 141.42 crore in Century Textiles and Industries.
Shares worth Rs 85.94 crore were sold in Mangalam Cement and shares worth Rs 47.72 crore were offloaded in Aditya Birla Nuvo Ltd.
In Grasim Industries, the firm sold stake worth Rs 52.92 crore and it was Rs 25.88-crore worth of stake sold in UltraTech Cement.
Stakes sold in Century Enka and Mangalam Timber Products were worth Rs 23.52 crore and Rs 4.23 crore, respectively.
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