Heard on the Street: Modison Metals gains 9% on board nod for tech tie-ups

Shares of Modison Metal, a Gujarat-based manufacturer of electrical switchgears and metal conductors, surged over 9% on Tuesday after the company board agreed to the management's proposal of forming tie-ups with strategic partners who can help the company with advanced technology.

Modison Metals may now consider selling a stake in the company, traders speculate. "This will help the company with more funds and the much-needed technology," an analyst said. Modison Metals has gained 25% over the past one week to close at 42.50.