Sterling Holiday Resorts (India), SKS Microfinance, Punj Lloyd and Asian Paints are among the other stocks to see a surge in volumes on BSE today, 10 February 2014.
Dhanuka Agritech clocked volume of 13.65 lakh shares by 13:33 IST on BSE, a 107.34-times surge over two-week average daily volume of 13,000 shares. The stock surged 6.28% at Rs 194.55.
Sterling Holiday Resorts (India) notched up volume of 96.23 lakh shares, a 56.54-fold surge over two-week average daily volume of 1.70 lakh shares. The stock rose 0.27% to Rs 93.15.
Sterling Holiday Resorts (India) and Thomas Cook (India) (TCIL) announced a merger between the two companies on Saturday, 8 February 2014. The transaction is expected to close by the fourth quarter of 2014, subject to customary closing conditions and regulatory approvals as required. The part equity, part merger deal is structured as a multi stage process, whereby TCIL Group will make a preferential allotment investment for approximately of Rs 187 crore into Sterling. TCIL Group will purchase shares from Sterling shareholders for Rs 176 crore. Later, TCIL Group will make a mandatory open offer for Rs 230 crore. There will be a merger between the two companies at a defined swap ratio of 120:100.
SKS Microfinance saw volume of 7.80 lakh shares, a 4.28-fold surge over two-week average daily volume of 1.82 lakh shares. The stock jumped 8.71% at Rs 191.
Punj Lloyd clocked volume of 23.05 lakh shares, a 3.67-fold surge over two-week average daily volume of 6.28 lakh shares. The stock tumbled 5.35% at Rs 30.05.
Asian Paints saw volume of 2.25 lakh shares, a 2.47-fold rise over two-week average daily volume of 91,000 shares. The stock lost 0.55% at Rs 487.80.
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