DCM Shriram hits record high on land sale

Shares in DCM Shriram Ltd surge as much as 2.2 percent to an all-time high after the company said late on Tuesday that it sold its spinning mill for 171.3 million rupees ($2.9 million).

The conglomerate sold its textile spinning unit Swatantra Bharat Mills in Rajasthan, it said in a statement.

DCM Shriram shares rise 1.1 percent to 159.20 rupees at 0408 GMT. The stock has gained 23.4 percent so far this month.

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