Shares of India Cements registered sharp gains on bourses accompanied by huge volumes after the company announced the decision of Board of Directors transferring the IPL franchise rights to its wholly-owned subsidiary Chennai Super Kings on Wednesday.
The company also said the shareholders of India Cements will be allotted free shares in the new company, in proportion to their holdings subject to various approvals.
On the NSE the shares were quoting higher by 16.3 per cent at Rs. 110.70 in the morning deals with a volume of 69 lakh shares. On the BSE the shares were quoting at 109.20.
Published - February 12, 2015 11:05 am IST
