 "ECE Industries zooms 20% on promoter buying")
Shares of ECE Industries is locked in upper circuit 20% at Rs 125 on the National Stock Exchange (NSE) after the company’s promoter acquired an over four percentage points stake in the company via open market.
“Prakash Kumar Mohta bought 316,842 equity shares representing 4.1% stake in the company though open market on March 30, 2015,” ECE Industries said in a regulatory filing.
Post transaction, Prakash Kumar Mohta holding in ECE Industries increased to 16.71% from 12.61% earlier, it added.
As of December 31, 2014, the promoters held 58.16% stake in ECE Industries, the shareholding pattern data shows.
Till 1318 hours, around 66,558 shares changed hands on the counter and there are pending buy orders for 5,509 shares on the NSE.
Meanwhile, shares were trading 18% higher at Rs 132 on the Bombay Stock Exchange (BSE).
In January this year, the board had approved that out two stock exchanges where the equity share of the company are listed i.e. NSE & BSE, the company shall voluntary delist its equity shares from BSE without giving any exit opportunity to shareholders.
After delisting from BSE, the equity shares of the company will continue to remain listed on the NSE having nation-wide trading terminals, the company said.
“Prakash Kumar Mohta bought 316,842 equity shares representing 4.1% stake in the company though open market on March 30, 2015,” ECE Industries said in a regulatory filing.
Post transaction, Prakash Kumar Mohta holding in ECE Industries increased to 16.71% from 12.61% earlier, it added.
As of December 31, 2014, the promoters held 58.16% stake in ECE Industries, the shareholding pattern data shows.
Till 1318 hours, around 66,558 shares changed hands on the counter and there are pending buy orders for 5,509 shares on the NSE.
Meanwhile, shares were trading 18% higher at Rs 132 on the Bombay Stock Exchange (BSE).
In January this year, the board had approved that out two stock exchanges where the equity share of the company are listed i.e. NSE & BSE, the company shall voluntary delist its equity shares from BSE without giving any exit opportunity to shareholders.
After delisting from BSE, the equity shares of the company will continue to remain listed on the NSE having nation-wide trading terminals, the company said.