Jolly Board has locked in 20% upper circuit at Rs 384 on announcing delisting of the company’s equity shares from the Bombay Stock Exchange (BSE)
“The board of directors of the company will meet on November 10, to consider the proposal for voluntary delisting of equity shares of the company from the Bombay Stock Exchange in light of the promoter’s letter dated November 01, 2012,” Jolly Board said in a filing,.
The board will also consider the un-audited financial results for the quarter and half year ended September 30, 2012 and declaration of interim dividend for the year 2012-2013, it added.
The company’s shares are currently listed on the BSE. As on September 2012, the promoters hold 89.89% stake in the company engaged in forest products. The remaining 10.11% stakes are with the individual shareholders and bodies corporate.
The stock opened at Rs 345 and has seen around 1,200 shares changing hands on the counter. There are pending buy orders for 1,504 shares on the BSE.
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