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| TTK Prestige puts on hold delisting plan; plunges 20% |
| Press Trust of India / Mumbai Feb 09, 2009, 16:30 IST |
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Consumer durables firm TTK Prestige today said that it has put on hold its delisting plan due to "a sea change in the overall economic conditions", following the announcement the scrip of the company dropped nearly 20 per cent on the domestic bourses.
In a filing to the Bombay Stock Exchange, TTK Prestige said that "in the light of the changed economic conditions, the promoters have at this stage put on hold any step in the direction of delisting of the company".
On September 25 last year, the company had passed a resolution to undertake its voluntary delisting from the stock exchanges.
During the intra-day trading, shares of TTK Prestige touched a low of 105.35, a drop of 19.85 per cent from its previous close on the BSE.
It was trading at Rs 110.10, down 16.24 per cent in the afternoon trade on the BSE.
The scrip witnessed a similar trend on the National Stock Exchange. During the intra-day trade, it touched an intra-day low of Rs 106.05, down 19.96 per cent.
TTK Prestige was trading at Rs 111.50, down 15.85 per cent in the afternoon trade on the NSE.
Nearly 2.28 lakh shares changed the hands on the bourses.
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