Cerebra snaps winning streak as traders corner co

Shares of Bangalore-based Cerebra Integrated Technologies snapped a 4-day winning streak to close at Rs 14.35, down 2.2% over the previous close.

Buzz is that the stock is being cornered by traders close to “friendly circles” on talk that a Singapore-listed firm may pick up a strategic stake in the company.

The overseas firm is said to be one of the largest electronic waste management in Singapore, and has been looking to expand its presence in India for some time. According to people familiar with the development, the talks are at the final stage to set up India’s largest e-waste facility in India.

Cerebra recently amended its main objects of memorandum of association to foray into electronic waste management. When contacted, V Ranganathan, MD, said confirmed that there were plans to foray into the e-waste segment.