MoneyWorks4Me

Kesoram Industries sells stake worth Rs 429 crore: Report

23 Mar 2016 Evaluate

In order to reduce its debt and improve cash flows, Kesoram Industries has reportedly sold stakes worth Rs 428.53 crore in several listed companies, including Aditya Birla Nuvo and Grasim Industries, through open market transactions. The shares were acquired by Camden Industries, through block deal. Among the companies whose stake were sold are Aditya Birla Fashion and Retail (ABFRL), Ultratech Cement, Century Enka, Century Textiles and Industries (CTT), Mangalam Cement and Mangalam Timber Products.

Kesoram Industries is engaged in the manufacture of cement, tyres, tubes, rayon, paper, heavy chemicals and spun pipes.

Peers
Company Name CMP
Vardhman Textiles 528.25
Welspun Living 223.25
Arvind 509.15
Raymond Lifestyle 596.25
K.P.R. Mill 1054.45
View more..