Shanthi Gears in top gear on takeover talk

DALAL STREET SPIKES

Shanthi Gears surged 9.42 per cent to Rs 73.75 on media reports that Suzlon Energy, through its Belgium-based unit, Hansen Transmissions, is planning to buy a substantial stake in the company. The scrip opened at Rs 73 and went on to achieve a high of Rs 80.85 and a low of Rs 71 during intra-day trading.

A total of 569,393 shares of Shanthi Gears changed hands at the BSE. The scrip surged 6.65 per cent since the last month. Shanthi Gears manufactures and distributes gear boxes, gear wheels, geared motors, drafting units and conversion brackets.