Dynamatic Technologies surges 16% on demerger plan of auto division

The stock surged 16% to Rs 1,875 on the BSE trade after the company announced that its board will meet on Wednesday, February 28, 2018 to consider and approve de-merger of auto division.

Dynamatic Technologies has surged 16% to Rs 1,875 on the BSE in intra-day trade after the company announced that its board will meet on Wednesday, February 28, 2018 to consider and approve de-merger of auto division.

“An interim Board meeting is being called on Wednesday, 28th February 2018 to consider, deliberate and approve the comprehensive de-merger plan of auto divisions of Dynamatic Technologies Limited,” the company said in a regulatory filing.

The move to de-merge the auto divisions of the Company is in further to the direction of the board at its meeting held on 9th August 2017,