Alfa Laval hits 52-week high on proposed delisting plans

NEW DELHI: Shares of Alfa Laval surged over 13% to hit 52-week high of Rs 2700 on Tuesday after its parent decided to delist shares from BSE, NSE at a price of Rs 2850/share.

The company in a filing with the exchanges said, "In reference to the approval of Board of Directors of Alfa Laval (India) to the delisting proposal of Alfa Laval Corporate AB, Sweden, promoter of the Company, at their board meeting held on September 19, 2011 have passed a special resolution for voluntary delisting of equity shares of the Company.”

At 10:20 a.m., shares of the company were trading 13% higher at Rs 2680. The stock has hit a high of Rs 2700 and a low of Rs 2370.