Kesoram Industries lost 3.25% at Rs 126.60 at 9:32 IST on BSE after the company issued clarification with regard to a media news item after market hours on Thursday, 9 October 2014.
Meanwhile, the S&P BSE Sensex was down 198.58 points or 0.75% at 26,438.70.
On BSE, so far 24,000 shares were traded in the counter as against average daily volume of 2.05 lakh shares in the past two weeks.
The stock hit a high of Rs 129.20 and a low of Rs 125.65 so far during the day.
Kesoram Industries clarified after market hours on Thursday, 9 October 2014, with respect to news article titled "Kesoram Industries puts Birla Tyre on the block; appoints BofA-ML for sale process", that the company is not aware of any of the developments indicated in the news stream. This makes the contents of the news stream speculative, it added.
Kesoram Industries reported a net loss of Rs 201.92 crore in Q1 June 2014, higher than net loss of Rs 99.90 crore in Q1 June 2013. Total income from operations declined 0.98% at Rs 1266.69 crore in Q1 June 2014 over Q1 June 2013.
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Kesoram Industries is a diversified company. The company manufactures tyres, cement, rayon yarn, transparent paper, spun pipes and heavy chemicals.
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