Heard on the Street: Graphite India jumps 7% on German arm sale talk

Graphite India jumps 7% on German arm sale talk

Shares of Graphite India rose 7% early on Friday on talks the company is selling its German arm Graphite Cova. But the stock shed early gains and ended 0.6% lower at Rs 92.60. Brokers said some operators spread the rumour to push up the stock.

Nearly 6.14 lakh shares changed hands on the BSE against the two-week average volume of 1.10 lakh shares. An email query sent to the company did not elicit any response.

Piramal Scouts for US buy

The market was abuzz with speculations that Piramal Healthcare is looking for a US acquisition. The company, which recently changed its name to Piramal Enterprise, is said to be looking for buyouts outside the pharma sector. Its officials could not be reached for comment.