Wyeth, Pfizer, Aban Offshore and Tata Elxsi are among the other stocks to see a surge in volumes on BSE today, 25 November 2013.
Hatsun Agro Product clocked volume of 3.31 lakh shares by 12:39 IST on BSE, a 20.57-times surge over two-week average daily volume of 16,000 shares. The stock rose 5.97% to Rs 196.05.
Wyeth notched up volume of 3.28 lakh shares, a 11.05-fold surge over two-week average daily volume of 30,000 shares. The stock climbed 14.05% to Rs 928.50.
Pfizer saw volume of 1.02 lakh shares, a 4.62-fold surge over two-week average daily volume of 22,000 shares. The stock jumped 7.53% to Rs 1,539.40.
The boards of Pfizer and Wyeth on Saturday, 23 November 2013, approved the merger of Wyeth with Pfizer. As per the merger scheme, shareholders of Wyeth will get seven Pfizer shares for every 10 shares held in the company. The appointed date of the merger scheme is 1 April 2013. Wyeth's board also announced a liberal interim dividend of Rs 145 per equity share. The board of directors of Pfizer also announced a liberal interim dividend of Rs 360 per share. The swap ratio for merger of Wyeth with Pfizer has been recommended after taking into account the payment of the interim dividend and is on a post dividend basis, the two companies said separately.
Aban Offshore clocked volume of 18.68 lakh shares, a 3.17-fold surge over two-week average daily volume of 5.90 lakh shares. The stock surged 16.02% to Rs 348.05.
Tata Elxsi saw volume of 2.02 lakh shares, a 2.75-fold rise over two-week average daily volume of 73,000 shares. The stock rose 2.97% to Rs 251.40.
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