Thursday, 31 May 2018

Orient Cement calls off deal with Jaypee Group; stock gains 15%

The stock rallied 15% to Rs 140 on the BSE in intra-day trade on back of heavy volumes. Orient Cement has moved higher by 15% to Rs 140 on the BSE in intra-day trade, after the company announced the termination of an agreement with Jaypee Group companies to acquire Nigrie cement grinding unit and Bhilai Jaypee Cements due to its inability to complete the deal within the stipulated timeframe.

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