Realty firm Landmark Property Development Company Ltd today got relisted at Rs 92.10 on the Bombay Stock Exchange, pursuant to the transfer of the real estate unit of OCL India Ltd to the company.
The scrip opened at Rs 92.10, which was also its intra-day high. The company listed 13.41 crore shares on the bourses.
Similarly, on the National Stock Exchange the scrip opened at the day's high of Rs 200 and over 1.62 crore shares changed hands on both the bourses.
Last year, the Orissa High Court had approved the transfer of the real estate undertaking of OCL India Ltd to Landmark Property Development.
Under the scheme of arrangement, Landmark has issued three equity shares in the company, for every share held in OCL India, which is engaged in the business of refractories.
"The daily circuit filter in the equity shares of the company is being kept open on August 12, 2008, in order to enable the members to deal in the scrip at a realistic price level," the BSE said in a circular.
Meanwhile, with the significant surge in the scrips during the relisting of companies like Griffin, KGN and Sylph in the past few months, the BSE has warned investors saying, "Trading members are cautioned not to enter orders at unrealistic prices."
The scrip of Landmark Property Development was later trading at Rs 38.30 on the BSE and at Rs 43.40 on the NSE at 1013 hrs.
