The Hindu Business Line : Century Text up on ownership factor

Century Textiles and Industries witnessed huge activity on buzz that Mr Kumar Mangalam Birla may gain "ownership control" in the entity, dealers said.

The buzz gained prominence after both Mr S.K. Birla and Mr C.K. Birla stepped down from the board of the company recently, they said.

Further, the sops for the textiles sector in the Budget and the higher demand for cement are also likely to boost the company's earnings, the dealers said.

The stock rose 11.40 per cent on Wednesday to touch Rs 376.75, compared to Tuesday's close of Rs 338.20 on the BSE.

The stock, has in fact, shot up 21.55 per cent over a week's time from Rs 309.95.

On the NSE, Century Textiles' stock ended at Rs 376.60, up 11.11 per cent, from the previous close of Rs 338.95.

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