Sharemasterindia.com: Kesoram Industries shares rose as much as 8 per cent to an intraday high
of Rs 88.70 on Monday, extending its gain to nearly 15 per cent in two
sessions.
On Friday, Kesoram Industries rose 5.6 per cent. Shares of Kesoram Industries witnessed strong buying interest after Economic Times reported that JK Tyre is likely to Kesoram's tyre unit Birla Tyres.
Shares of JK Tyre also witnessed buying interest. JK Tyres shares surged as much as 2.5 per cent on Monday. The Bombay Stock Exchange has sought clarification from both JK Tyres and Kesoram Industries on this news report.
If JK Tyre acquires Birla Tyres, then its market share will increase to 20 per cent from current 13 per cent, the news report added.
Birla Tyres has an annual capacity of 12.1 million tyres.
As of 12.41 p.m. shares in Kesoram Industries traded 7.47 per cent higher at Rs 87.75 apiece while JK Tyre shares were up 2.14 per cent at Rs 86 apiece, outperforming the broader Nifty, which was down 0.43 per cent.
Read More: Indian Stock Tips
On Friday, Kesoram Industries rose 5.6 per cent. Shares of Kesoram Industries witnessed strong buying interest after Economic Times reported that JK Tyre is likely to Kesoram's tyre unit Birla Tyres.
Shares of JK Tyre also witnessed buying interest. JK Tyres shares surged as much as 2.5 per cent on Monday. The Bombay Stock Exchange has sought clarification from both JK Tyres and Kesoram Industries on this news report.
If JK Tyre acquires Birla Tyres, then its market share will increase to 20 per cent from current 13 per cent, the news report added.
Birla Tyres has an annual capacity of 12.1 million tyres.
As of 12.41 p.m. shares in Kesoram Industries traded 7.47 per cent higher at Rs 87.75 apiece while JK Tyre shares were up 2.14 per cent at Rs 86 apiece, outperforming the broader Nifty, which was down 0.43 per cent.
Read More: Indian Stock Tips
