Piramal Glass hits the roof on delisting plan

Date: 12 February 2014
Source: Piramal Glass

Date: 12 February 2014

Piramal Glass was locked at 20% upper circuit at Rs 92.80 at 11:31 IST on BSE after the company's board approved delisting of shares from the stock exchanges.

The announcement was made during market hours today, 10 February 2014.Meanwhile, the BSE Sensex was up 2.15 points or 0.01% to 20,378.71On BSE, so far 20,318 shares were traded in the counter with pending buy orders of 5.72 lakh shares at upper circuit.The stock has an average daily volume of 5,202 shares in the past one quarter.

The stock opened with upward gap, gaining by the maximum 20% daily circuit and remained locked at the 20% level at Rs 92.80 so far during the day. The stock hit a 52-week high of Rs 106 on 30 September 2013. The stock hit a 52-week low of Rs 67.50 on 3 February 2014.

The stock had underperformed the market over the past one month till 7 February 2014, falling 9.27% compared with the Sensex's 1.53% fall. The scrip had also underperformed the market in past one quarter, sliding 13.82% as against Sensex's 2.14% fall.

The small-cap company has an equity capital of Rs 80.91 crore. Face value per share is Rs 10.

Piramal Glass said that the company's board of directors at its meeting held today, 10 February 2014 approved voluntary delisting of equity shares of the company from the stock exchanges. Total promoter holding stood at 74.16% in Piramal Glass (as per the shareholding pattern as on 31 December 2013).

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