Shares of Indo Tech Transformers jumped by 9 per cent to close at Rs 271.50 on reports that global power major, General Electric is planning to acquire a stake in the company. However, Indo Tech clarified (after market hours) that these media reports are speculative in nature and that the company is not aware of any such developments.
The stock made an intraday high of Rs 274 (upper circuit of 10 per cent) and a low of Rs 252.55, with trading volumes of 2,42,070 shares. The small-cap stock had outperformed the market over the past one month, rising 34 per cent compared to Sensex's decline of 15.4 per cent.
