Equity Alert: Mather & Platt Pumps surges 20% on delisting plan
MUMBAI--1:30PM--Shares of Mather & Platt Pumps hit upper circuit
of 20%
at 140.50 rupees on BSE after the company's promoter WILO said it
would
de-list the company at 150 rupees a share.
The de-listing price of 150 rupees a share is at a premium of 28%
to
Monday's closing price of 117.10 rupees.
"If the stock crosses 200-day moving average of 141.53 rupees,
then it
would become a strong counter, but 141 rupees may act as strong
resistance,"
said Mileen Vasudeo, technical analyst, Angel Broking.
So far today, 30,170 Mather & Platt Pumps shares have been traded
on BSE.
The delisting will facilitate plans for various businesses and
entities
of WILO, including the integration of these entities into the WILO
group, the
company said.
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