Prabhat Dairy locked in 20% upper circuit as it mulls voluntary delisting

So far in CY2019, the stock of the company has underperformed the frontline index by plummeting 28 per cent YTD, as against a 1.6 per cent rise in the S&P BSE Sensex.

Shares of Prabhat Dairy were locked in the upper circuit band of 20 per cent at Rs 78.15 apiece on the BSE on Friday, after the company said the promoters, including Sarangdhar Ramchandra Nirmal, and Vivek Sarangdhar Nirmal, were mulling purchasing publicly held shares, and delisting of the company. In comparison, the benchmark S&P BSE Sensex was ruling 0.32 per cent higher at 36,761 level. 
 

“The company has received letter from Sarangdhar Ramchandra Nirmal, Vivek Sarangdhar Nirmal, Madhyam Farming Solutions Private Limited and Nirmal Family Trust, the members of the promoter and promoter group, where they have expressed their intention