Orient Cement up 21% in 2 days; firm clarifies on Adani stake purchase buzz

The BSE had sought clarification from Orient Cement on January 3, 2023, regarding reports stating that Adani Group was in talks to buy promoter stake In the company

Shares of Orient Cement moved higher by 12 per cent to Rs 148.70 on the BSE in Wednesday’s intra-day trade on the back of heavy volumes in an otherwise weak market. In the past two days, the stock of CK Birla Group cement & cement products company has rallied 21 per cent amid report of Adani Group eyeing promoter stake in the company.

The company, on its part, however, has clarified that it is not privy to any such discussion, and therefore cannot comment on the same.

"We further wish to clarify that at present there is no