Schneider Electric surges 12% after block deals

The stock surged 12% to Rs 115 on the BSE in intra-day trade on back of heavy volumes.

Shares of Schneider Electric Infrastructure surged 12% to Rs 115 on the BSE in intra-day trade after nearly three percent stake of the company changed hands through block deals.

At 11:46 am; the stock was trading 11% higher at Rs 114, as compared to 0.31% rise in the S&P BSE Sensex. A combined 6.3 million shares representing 2.6% of total equity of the company were traded on the BSE and NSE.

The name of the buyers and sellers were not ascertained immediately.

Schneider Electric Infrastructure, engaged in heavy electrical equipment business, said that the company have positive