Dalmia Bharat Limited arm gets back Mutual Funds to its demat account

Dalmia Bharat Limited (formerly known as Odisha Cement Limited) had earlier announced about the order of the Hon'ble Supreme Court dated March 16, 2021, modifying its earlier order of August 2019, and allowing release of the Mutual fund units of two erstwhile subsidiaries of Dalmia Cement (Bharat) Limited ("DCBL") which is a subsidiary of the Company, valued at approx. Rs. 344 crore ("Securities") which were fraudulently and illegally transferred by Allied Financial Services Private Limited ("Allied/AFSPL") in collusion with IL&FS Securities Services Limited ("ISSL") and the same were lying with ISSL.

The said Securities of DCBL lying with ISSL were released in favour of DCBL and credited back to its demat account as per said order of the Hon'ble Supreme Court.

Shares of Dalmia Bharat Limited (formerly known as Odisha Cement Limited) was last trading in BSE at Rs.1561.35 as compared to the previous close of Rs. 1587.05. The total number of shares traded during the day was 3405 in over 700 trades.

The stock hit an intraday high of Rs. 1593 and intraday low of 1552. The net turnover during the day was Rs. 5323411.

Source : Equity Bulls

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