This smallcap penny stock is locked in 20% upper circuit on Birla Group’s exit. Do you own?
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Shares of Kesoram Industries climbed sharply on Monday, hitting a 20% upper circuit of Rs 7.84, after a change in control signalled the complete exit of the Birla family from the company. The stock reacted to Friday’s block deal, in which Frontier Warehousing Limited moved to acquire a controlling stake in the B K Birla group firm after Kesoram formally separated its cement business. Frontier Warehousing’s entry follows a share purchase agreement that will see the company buy 13,29,69,279 shares from Birla-controlled promoter group entities at Rs 4 apiece. The deal, worth about Rs 53 crore, represents 42.8% of Kesoram’s voting share capital and marks the end of Birla ownership. The exit comes months after UltraTech Cement absorbed Kesoram’s cement division through a 1:52 share swap. The demerger became effective on March 1, 2025, under a composite scheme dated April 1, 2024, leaving Kesoram with its non-cement operations. Post-demerger, K...