 "Palred Technologies locked upper circuit post relisting")
Shares of Palred Technologies (formerly known as Four Soft Technologies) have locked in upper circuit of 5% at Rs 85.75 on the National Stock Exchange (NSE) following a reduction of its share capital.
Palred Technologies has extinguished 60% of the exiting equity capital of the company by returning to the shareholders an amount of Rs 16.50 per share. The shareholders continue to hold 40% shares in the company.
Till 10:29 am, a combined 4,031 shares changed hands and there were pending buy orders for 236,343 shares on the NSE and BSE.
The stock was closed at Rs 46.70 on NSE on July 7, 2015, before the suspension on account of the scheme of reduction of capital.
Palred Technologies has extinguished 60% of the exiting equity capital of the company by returning to the shareholders an amount of Rs 16.50 per share. The shareholders continue to hold 40% shares in the company.
Till 10:29 am, a combined 4,031 shares changed hands and there were pending buy orders for 236,343 shares on the NSE and BSE.
The stock was closed at Rs 46.70 on NSE on July 7, 2015, before the suspension on account of the scheme of reduction of capital.