Buzzing Stock: Speculative news drives Deccan Gold Mines to upper circuit
DSIJ Intelligence / 28 Jul 2017
Going ahead, media report also mentioned that Vedanta has been planning to step into metal mining industry with these synergies.
The news cracked through media about Deccan Gold Mines driving the positive movement in the stock, which stated that, Vedanta is in initial talks with the South India based Deccan Gold Mines to acquire its controlling stake.
Going ahead, media report also mentioned that Vedanta has been planning to step into metal mining industry with these synergies.
With this news in the first session of trading the stock, has created an upper circuit and has got attention of investors.
However, at 11:15 am, Vedanta has clarified the exchange in its filing as the news posted in media is baseless and speculative. After the declaration by Vedanta, the stock broke its circuit and started a downtrend.
Currently, the company belongs to the Industry of Mining/Minerals and at 12:20 pm, the stock is quoting at Rs.52.40 per share.
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