Published on 10/01/2018 12:00:26 PM | Source: Dion Global Solutions Ltd

Balasore Alloys zooms 13% on acquiring stake in Zimbabwe Alloys

Posted in Stock On The Move| #Metals Sector #Stock On The Move

Shares of Balasore Alloys surged over 13 per cent on the Bombay Stock Exchange after the company said it has acquired 70 per cent stake in Zimbabwe Alloys in a cash deal worth USD 16.47 million. Following the announcement, stocks of the company gained as much 13.29 per cent and an intra-day high of Rs 89.90 apiece on the Bombay Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 34,404.92, down 38.27 points, or 0.11 per cent, at 11:05 hours.