The stock slipped to touch a low of Rs 873 - down 5% from the day's high. It finally ended with a loss of 2% at Rs 885. Around 40,469 shares changed hands at the counter on the BSE today.
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(Updated at 1043 hrs)
Aditya Birla Nuvo is up on diversification plans. The company plans to utilize its additional cash to diversify into new-age businesses.
The stock today opened at Rs 910, slipped to a low of Rs 900 and then rebounded into the positive to touch a high of Rs 922. The scrip is now trading at Rs 919, up 1.5% from its previous close. The counter has clocked volumes of 16,251 shares so far on the BSE.
The company plans to make use of the surplus cash generated by its older-business such as carbon black, fertilisers, insulators, rayon and textiles in the growing new-generation businesses such as financial services, telecom, BPO and IT.
Further, the company is also looking for a transformation from a manufacturer to a 'premium conglomerate'.
