Gujarat Fluorochemicals gains 3% on delisting speculation

Shares of Vadodara-based Gujarat Fluorochemicals rose 3.1% to Rs 527 on Monday on speculation that its promoter, the Inox Group, is looking to delist the company from the bourses.

As on December 31, 2011, promoters held a 70.03% stake in the company. An email query sent to Gujarat Fluorochemicals in this regard remains unanswered till the time going to print.

The stock, which moved back and forth between gains and losses till 11 PM on Monday, suddenly jumped because of the buzz, said brokers.

Around 6.82 lakhs shares changed hand on both the exchanges compared to 10-day average volume of 2.7 lakh shares.