Shares of Electrotherm India were locked in the 20 per cent upper circuit at Rs 128.4, after the company announced that its board has approved the spin off of its engineering business into a new entity - Electrotherm Engineering & Projects.
The company's shareholders will get one share of the new entity for every three shares held in the parent company. The stock made an intraday high of Rs 128.4 and a low of Rs 107.7, with trading volumes of 6,735 shares. The stock hit a 52-week high of Rs 619 (January 02) and a low of Rs 76 (December 03).
