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Binani Industries stock rallies on stake sale reports

New Delhi, Feb 20: Binani Industries on Wednesday jumped by 14 per cent following the reports that the company is in talks with potential financial investors such as JP Morgan and state-owned funds in the

India TV Business Desk [ Updated: February 20, 2013 10:56 IST ]
binani industries stock rallies on stake sale reports
binani industries stock rallies on stake sale reports

New Delhi, Feb 20: Binani Industries on Wednesday jumped by 14 per cent following the reports that the company is in talks with potential financial investors such as JP Morgan and state-owned funds in the Middle East to sell up to 40 per cent stake in its subsidiary Binani Cement.




At 10:52 am, Binani Industries jumped nearly 14 per cent at Rs 123.70. It has hit a low of Rs 115 and a high of Rs 126 in trade on Wednesday. The company has been looking to raise capital to cut down their debt and expand their capacities.

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