Kesoram Inds at new high again

Kesoram Inds has been on a dream run over the past couple of days, hitting new highs every day. Today too, the company hit a new high at Rs.130.40 and continues to remain in the green, up 5%.

The reason for the spike up is that Board of Directors are meeting today to explore options for "reorganising and realigning'' its existing businesses. The company has put this as an ‘imminent necessity’.  For the purpose of restructuring the business, the company has formed a core committee consisting of three directors, two of whom were independent, to evaluate the steps needed to pursue for reorganisation and realignment.