OCL Iron and Steel has surged to its 5% upper circuit on stake sale by promoters.
The stock opened at its 5% upper circuit of Rs 24.25 and is currently locked at the same level. Around 128 shares have been traded on the BSE so far. Around 667,672 buy orders are pending at the counter.
The promoters of OCL Iron and Steel have sold a stake of 51% in the company. These 67.9 million shares are valued at Rs 142.65 crore. As per BSE data, Garima Buildprop purchased the shares, and Raghu Hari Dalmia, vice-chairman of OCL Iron and Steel and R H Dalmia Trust were the sellers. However, there will not be any open offer as the buyer had already made an open offer.
