Century Textiles soars on divestment plans

Century Textiles will divest its cement business and merge it in an all share deal with UltraTech.

Century Textiles & Industries is trading on gung-no note on the BSE in early morning deals, on the back of positive news flow.

According to media reports, Century Textiles will divest its cement business and merge it in an all share deal with India's largest cement maker UltraTech.

Now, the stock is trading at the highest level of the day - with a surge of over 6.6 percent at Rs. 762.

On the BSE, so far 211,000 shares have changed hands at the counter as against the daily average volume of 447,000 shares in the past two weeks.

Meanwhile, the BSE Sensex has spurted over 100 points at 27,779