3M vaults 10 per cent on delisting hopes

DALAL STREET SPIKES

3M India, subsidiary of a leading multinational, vaulted 9.99 per cent on Tuesday to close at Rs 920.65. The market expects that the company's US-based parent Minnesota Mining and Manufacturing Company would buy out the entire public shareholding and turn it into a 100 per cent arm.

Over 10,000 shares of the company changed hands on the BSE. The stock has been witnessing persistent buying interest for the last few sessions and rose from Rs 800.40 on August 30, posting gains of over 15 per cent during the week.