iWabco-TVS relists at Rs 299 on BSE
Wabco-TVS got relisted on Wednesday at Rs 299.90 on the Bombay Stock Exchange pursuant to its demerger from Sundaram-Clayton.
By PTI |
MUMBAI: Wabco-TVS got relisted on Wednesday at Rs 299.90 on the Bombay Stock Exchange pursuant to its demerger from Sundaram-Clayton. The scrip opened at Rs 299.90, and touched an intra-day high of Rs 374 on the BSE.
On the National Stock Exchange the scrip opened at Rs 190 and touched the day's high of Rs 370. Over four lakh shares changed hands on both the bourses.
Last year, the board of directors of Sundaram-Clayton (SCL) had transferred its brakes business to its subsidiary Wabco-TVS through a demerger.
Under the scheme of arrangement, Wabco-TVS has issued one equity share of Rs five each, for every one share of Rs 10 each held in SCL.
The daily circuit filter in the equity shares of the company is being kept open on October 1, in order to enable the members deal in the scrip at a realistic price level, the BSE said in a circular.
Meanwhile, with significant surge in the scrips during the relisting of companies such as Griffin, KGN and Sylph in the past few months, the BSE has warned investors saying, Trading members are cautioned not to enter orders at unrealistic prices.
The scrip was later trading at Rs 278.15 on the BSE and at Rs 280 on the NSE at 10.20 hrs.
On the National Stock Exchange the scrip opened at Rs 190 and touched the day's high of Rs 370. Over four lakh shares changed hands on both the bourses.
Last year, the board of directors of Sundaram-Clayton (SCL) had transferred its brakes business to its subsidiary Wabco-TVS through a demerger.
Under the scheme of arrangement, Wabco-TVS has issued one equity share of Rs five each, for every one share of Rs 10 each held in SCL.
The daily circuit filter in the equity shares of the company is being kept open on October 1, in order to enable the members deal in the scrip at a realistic price level, the BSE said in a circular.
Meanwhile, with significant surge in the scrips during the relisting of companies such as Griffin, KGN and Sylph in the past few months, the BSE has warned investors saying, Trading members are cautioned not to enter orders at unrealistic prices.
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The scrip was later trading at Rs 278.15 on the BSE and at Rs 280 on the NSE at 10.20 hrs.
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