May 31, 2018 / 6:01 AM / 7 months ago

BUZZ-India's Orient Cement gains on deal termination cheer

** Cement maker Orient Cement Ltd’s shares rise as much as 13.5 pct to 139.45 rupees, their biggest intraday pct gain since Feb 6

** Business transfer agreement with Jaiprakash Power Ventures, Jaiprakash Associates Ltd (JAL) and Share Purchase Agreement with JAL stands terminated, co said on Thursday

** Analysts say the deals were a drag on Orient’s profitability and balance sheet, given its debt issues

** More than 550,000 shares change hands as of 0555 GMT, nine times their 30-day moving average

** Stock has declined about 15 pct since May 31, when the deals were first announced

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