 "OCL India turns volatile after huge block deal")
Shares of OCL India has dipped 7.5% to Rs 546, falling 20% from its record high touched in early morning trade, after a huge block deal executed on the counter on BSE today.
The stock opened at Rs 603 and touched a record high of Rs 685 on BSE.
At 0947 hours, about 15.25 million shares representing 26.7% stake of OCL India have changed hands at price of Rs 657 per share, the BSE data shows.
At 1142 hours, the stock was down 2% at Rs 577, erasing partial of its losses.
According to disclosure made by OCL India on February 16, Dalmia Cement (Bharat), the promoter of the company proposed to acquire 15.19 million shares constituting 26.7% of total share capital of OCL India though inter-se-transfer at a price not exceeding Rs 725 per share.
Post acquisition Dalmia Cement (Bharat) holding in OCL India would rise to 74.70% from 48% earlier, it added.
The stock opened at Rs 603 and touched a record high of Rs 685 on BSE.
At 0947 hours, about 15.25 million shares representing 26.7% stake of OCL India have changed hands at price of Rs 657 per share, the BSE data shows.
At 1142 hours, the stock was down 2% at Rs 577, erasing partial of its losses.
According to disclosure made by OCL India on February 16, Dalmia Cement (Bharat), the promoter of the company proposed to acquire 15.19 million shares constituting 26.7% of total share capital of OCL India though inter-se-transfer at a price not exceeding Rs 725 per share.
Post acquisition Dalmia Cement (Bharat) holding in OCL India would rise to 74.70% from 48% earlier, it added.