Foseco India to consider voluntary delisting proposal; stock spurts 20%

The company’s board will also consider the final dividend for the financial year ended December 31, 2018.

Jan 15, 2019 09:01 IST India Infoline News Service

IT Stocks Up
Shares of Foseco India were spurted 20% on Tuesday after the company in its filing to the exchanges informed that its board will consider the proposal of voluntary delisting of shares from the BSE.

"The company’s board in a meeting scheduled on February 25, 2019, will consider, approve, and take on record the audited financial results of the company for the quarter and year ended December 31, 2018, and also to consider, if thought fit, to recommend the final dividend for the financial year ended December 31, 2018," the company said in a press note to the exchanges on Tuesday.

Foseco India Ltd's share price is currently at Rs1,638.90, up by Rs273.15 or 20%, from its previous closing of Rs1,365.75 on the BSE.

The scrip opened at Rs1,379 and has touched a high and low of Rs1,638.90 and Rs1,379, respectively.

So far, 76,303 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs872.71cr.

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