Shares of India Cements registered sharp gains along with spurt in volumes on the bourses on Thursday.
The day also saw the Supreme Court delivering its much-anticipated verdict on the IPL (Indian Premier League) betting case.
On the BSE, India Cements shares breached the upper circuit of Rs.112.65 intra-day before ending the day at Rs.111.45
Earlier this month, India Cements de-merged the IPL franchise CSK, and converted it into a separate arm.
It may be recalled that the Board of Directors of the company at a meeting held on September 26, 2014, had approved the proposal to demerge Chennai Super Kings (CSK)-BCCI-IPL Franchise 20/20 Cricket Tournament Team into a wholly-owned subsidiary of the company, by transferring its net assets at cost with the effective date of transfer as January 1, 2015.
