Torrent Power has surged 20% to Rs 123 on back of heavy volumes on the bourses. The stock opened at Rs 103 on BSE, has seen over four-fold jump in trading volumes.
A combined 8.64 million shares have already changed hands on the counter till 1520 hours against an average sub one million shares that were traded daily in past two weeks on BSE and NSE.
Since October 30, shares of electric utilities maker has zoomed 58% after its board approved the restructuring plans.
The board of directors of Torrent Power has accorded its approval to the existing committee of directors to carry out a study and thereby evolve a suitable and optimum business model along with desirable capital structure for the power sector operations of the Torrent Group covering, inter alia, the possibility of appropriate re-organisation including merger, demerger, forward/backward integration, sale of any division, etc, Torrent Power said in a statement.
A combined 8.64 million shares have already changed hands on the counter till 1520 hours against an average sub one million shares that were traded daily in past two weeks on BSE and NSE.
Since October 30, shares of electric utilities maker has zoomed 58% after its board approved the restructuring plans.
The board of directors of Torrent Power has accorded its approval to the existing committee of directors to carry out a study and thereby evolve a suitable and optimum business model along with desirable capital structure for the power sector operations of the Torrent Group covering, inter alia, the possibility of appropriate re-organisation including merger, demerger, forward/backward integration, sale of any division, etc, Torrent Power said in a statement.
