DCM Shares Fall After Hitting Record High
Shares in DCM Shriram Ltd fell today after hitting a record high earlier in the session. The stock had surged as much as 2.2 per cent to an all-time high after the company said late on Tuesday that it sold its spinning mill for Rs17.13 crore ($2.9 million).
The stock fell to an intra-day low of Rs 155.80, below its previous close of nearly Rs 157 per share, by late morning trade as profit-booking took place at higher levels. The stock has rallied nearly 25 per cent so far this month.
The company announced last evening after close of trading hours that it has its textile spinning unit, Swatantra Bharat Mills, in Rajasthan as a running business for a lump sum consideration of Rs 17.13 crore.
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