DCM was locked in 20% upper circuit at Rs 117, also its 52-week high on BSE, after the board approved the restructuring of its business including demerger of real estate business.
The trading volumes on the counter jumped five-fold with a combined 915,215 shares changed hands. There were pending buy orders for 175,197 shares on the BSE and NSE at 11:21 am.
The board at its meeting held on October 15, 2016 approved the de-merger of real estate undertaking of DCM and merging it into DCM Realty and Infrastructure.
The board also approved amalgamation of TIARA Investment Holdings into Purearth Infrastructure. The amalgamation of Purearth Infrastructure into DCM Realty and Infrastructure will after the above …
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