Equity Alert: Tudor up 9% ahead of board meet to mull delisting
MUMBAI--11:25AM--Tudor India shares were up 9% at 47 rupees on BSE
ahead
of a board meeting to consider delisting the company's shares from the
exchange, dealers said.
Tudor India's promoter CMP Batteries holds 83.63% stake in the
company.
"At what rate the company (Tudor India) buys back shares and when
it is
going to delist is to be seen," said a dealer at a domestic brokerage.
Technical analysts said the stock was highly illiquid and could
slip
after the delisting price is known.
The stock has "provisional" resistance at 56 rupees and support
between
41-37 rupees, said Gurudatta Dhanokar, technical analyst, Almondz
Global
Securities.
So far today, over 1.6 mln Tudor India shares have been traded on
BSE.
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