HYDERABAD, March 10: Speculation over Gujarat Ambuja Cements Ltd (GACL) on taking over of the city based Priyadarshini Cement Ltd (PCL) has pushed the scrip price to its freezing point at Rs 25.05 on NSE today.Tthe PCL scrip had hit today's ceiling with no sellers on the field. It was traded 11,500 shares at the ceiling price while the demand for 77,700 shares is yet to be met.
PCL officials still maintain that there is no takeover attempt on the company from any raider. Further, they say that the controlling stake of over 51 per cent is still with the promoters and their associates. However, they confirm that GACL has holding of about 4 to 5 per cent.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
