Hasty call catches Foseco investors on wrong foot

Investors, who had rushed to buy shares of multi-national company Foseco last week after the company announced a ‘voluntary delisting’, have been caught on the wrong foot. While ‘voluntary delisting’ was one of the agenda of the board meeting on January 25th, the fine print said they were delisting only from the BSE.

Foseco is currently listed on both BSE and NSE. The stock rallied over 25 per cent in just two days post ‘voluntary delisting’ announcement on January 15 with nearly 1.74 lakhs shares changing hands as against an average daily trading of 750 shares in the previous 15 days.

By the time investors figured out what was happening, Foseco shares had started falling. In last two trading sessions, the stock has fallen nearly 5 per cent with 554 shares traded on the BSE.


As of December 31, 2018, the promoters held 74.98 per cent stake in Foseco India.