Alfa Laval India soars on parent's open offer

DALAL STREET SPIKES

Alfa Laval (India), the manufacturer of oil separator and vaccum-unit maker, soared 20 per cent to close at Rs 839.75 a share on the Bombay Stock Exchange, also its intraday high, after the Swedish parent offered to buy 13.26 per cent stake in the company for Rs 950 a share. A total of 37,035 shares changed hands.

The open offer announcement was made during the market hours on Friday. The Swedish company intends to increase its stake to 89.9 per cent in the Indian unit, from 76 per cent at present.