Trimming most of its initial gains, shares of Kesoram Industries today ended nearly 2 per cent higher amid an overall sluggish broader market.
The stock ended the day at Rs 103.25, up 1.67 per cent on BSE. Intra-day, it surged 7.33 per cent to Rs 109.
At NSE, shares of the company settled 1.81 per cent higher at Rs 103.50.
Profit-taking pulled down the stock from its day's peak.
The stock witnessed sharp gains during the day as the company yesterday sold stakes worth Rs 428.53 crore in several listed companies, including Aditya Birla Nuvo and Grasim Industries, through open market transactions as part of the efforts to enhance cash inflow.
The shares were acquired by Camden Industries Ltd, as per BSE's block deal data yesterday.
Among the companies whose stakes were offloaded are Aditya Birla Fashion and Retail Ltd, UltraTech Cement Ltd, Century Enka Ltd, Century Textiles and Industries Ltd, Mangalam Cement Ltd and Mangalam Timber Products Ltd.
While stake worth Rs 46.88 crore was sold in Aditya Birla Fashion and Retail Ltd, Kesoram Industries off-loaded stake worth Rs 141.42 crore in Century Textiles and Industries.
Shares worth Rs 85.94 crore were sold in Mangalam Cement and shares with a value of Rs 47.72 crore were offloaded in Aditya Birla Nuvo Ltd.
In Grasim Industries, the firm sold stake worth Rs 52.92 crore and it was Rs 25.88 crore worth of stake sold in UltraTech Cement.
Stakes sold in Century Enka and Mangalam Timber Products were worth Rs 23.52 crore and Rs 4.23 crore, respectively.
