Elantas Beck rallied over 5% to close at 452. The stock hit its 52-week high at Rs 465 today during the day. The stock touched an intra-day low of Rs 421, after opening at Rs 426. The counter saw trades of 21,468 shares as against its two-week average traded quantity of 38,590 shares.
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(Updated 1055 hrs)
Elantas Beck India has zoomed on hopes of a buy-back offer at a significant higher price.
The stock today opened at Rs 426 and slipped to a low of Rs 421. From there the stock soared 8% to a new 52-week high of Rs 465 and is currently trading with a 6% gain at Rs 456.
The company proposed its decision to delist on August 10, 2009. Since then the stock has sky-rocketed 85%.
Elantas Beck India informed the BSE that it would delist the equity shares of the company currently traded on the BSE, following its parent company's decision. The company would purchase the 907,366 publicly held equity shares, representing 11.45% of the issued and paid-up equity share capital of the company.
Further, the company has informed that it would be taking the necessary permission from the share-holders for the buy-back.
