Prabhat Dairy falls 10% on profit booking as board approves delisting plan

Shares of Prabhat Dairy slipped 10 per cent to Rs 71 in the early morning trade on the BSE on Monday after the company's board approved and recommended its delisting proposal, with a floor price of Rs 63.77 per share.

On September 5, the company had informed the bourses that it was mulling to voluntarily delist the equity shares of the company from stock exchanges. Between September 3 and 13, the stock of the packaged foods company had rallied 37 per cent, as compared to a 2.2 per cent rise in the S&P BSE Sensex. 

“Certain members of the promoter group