Ballarpur Ind shares surge over 8%

Shares of paper manufacturer Ballarpur Industries soared over 8 per cent after its board approved divestment of its entire stake of 98.08 per cent in its step-down subsidiary Sabah Forest Industries in Malaysia.
The stock surged 8.13 per cent to settle at Rs 15.69 on the BSE. In intra-day, it climbed 9.71 per cent to Rs 15.92.
On the NSE, shares of the company rose by 8.27 per cent to end at Rs 15.70.
In terms of volume, 21.81 lakh shares of the company changed hands at the BSE and over one crore shares were traded at the NSE during the day.

The company's board on Friday approved the binding offer of divestment of 98.08 per cent in its step-down subsidiary Sabah Forest Industries, which is subject to regulatory approvals of the Government of Malaysia and bankers' due diligence of prospective buyer.
Meanwhile, in the broader market the BSE benchmark Sensex ended at 27,961.19, up 299.79 points.