Odisha Cement slips 6% on illegal transfer of MF units worth Rs 344 crore

The stock slipped 6 per cent to Rs 1,141 on the BSE in intra-day trade on Thursday after the company informed about illegal transfer of mutual fund units worth Rs 344 crore by Depository Participant.

Shares of Dalmia Bharat Group company Odisha Cement slipped 6 per cent to Rs 1,141 apiece on the BSE in intra-day trade on Thursday, after the company informed regulators about the illegal transfer of mutual fund units worth Rs 344 crore by a Depository Participant (DP).

“The certain mutual fund units, valued at approx. Rs 344 crore have been illegally and unauthorisedly transferred by the Depository Participant ("DP”) from the demat account(s) held by our erstwhile subsidiaries, OCL India and Dalmia Cement East Limited,” Odisha Cement said in a regulatory filing.

The company said it has already reported the matter