Heard on the Street: Atlas copco touches new high

Atlas Copco Touches New High

The delisting offer of Atlas Copco has triggered a major action in the counter with the stock scaling a new peak on Monday. The shares have been on an upswing on expectations that the shareholders would be able to tender shares at a handsome premium to the floor price fixed at . 1,426 per share. fter hitting the new high of . 2,633 intra-day , the Atlas Copco shares closed nearly 15% up at . 2,528 on the BSE.

Contributed by Vijay Gurav

Big Mutual Fund House on the Block

The market is abuzz with speculation that one of the biggest mutual funds in asset size, owned by a large business house, is on the block. Grapevine has it that a mid-sized mutual fund, which wants to grow through acquisitions, may be in talks to acquire it.

Some asset managers feel the fund house would be aperfect target for a global AMC looking to set up India operations, as the acquisition could be worth thousands of crores. Sources said promoters of the fund house are looking to exit the business as its operating margins have shrunk post the entry load ban.

Contributed by Shailesh Menon