Greenply Industries Ltd, NHPC Ltd, Hatsun Agro Product Ltd, CARE Ratings Ltd are among the other stocks to see a surge in volumes on NSE today, 09 November 2018.

Linde India Ltd notched up volume of 19.34 lakh shares by 14:14 IST on NSE, a 26.09 fold spurt over two-week average daily volume of 74131 shares. The stock rose 20.00% to Rs.583.00. Volumes stood at 90875 shares in the last session.

Greenply Industries Ltd clocked volume of 10.76 lakh shares by 14:14 IST on NSE, a 6.21 times surge over two-week average daily volume of 1.73 lakh shares. The stock gained 3.46% to Rs.151.10. Volumes stood at 2.06 lakh shares in the last session.

NHPC Ltd witnessed volume of 83.88 lakh shares by 14:14 IST on NSE, a 5.85 times surge over two-week average daily volume of 14.34 lakh shares. The stock increased 4.61% to Rs.26.10. Volumes stood at 5.26 lakh shares in the last session.

Hatsun Agro Product Ltd witnessed volume of 24642 shares by 14:14 IST on NSE, a 5.75 times surge over two-week average daily volume of 4287 shares. The stock dropped 2.57% to Rs.610.95. Volumes stood at 1195 shares in the last session.

CARE Ratings Ltd registered volume of 1.04 lakh shares by 14:14 IST on NSE, a 5.62 fold spurt over two-week average daily volume of 18510 shares. The stock slipped 0.43% to Rs.1,071.25. Volumes stood at 4316 shares in the last session.

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Infibeam Avenues Ltd, Strides Pharma Science Ltd, Gateway Distriparks Ltd and Oriental Bank of Commerce are among the other gainers in the BSE's 'A' group today, 09 November 2018.

Linde India Ltd soared 16.57% to Rs 566 at 11:48 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.59 lakh shares were traded on the counter so far as against the average daily volumes of 4227 shares in the past one month.

Infibeam Avenues Ltd spiked 14.16% to Rs 56.85. The stock was the second biggest gainer in 'A' group. On the BSE, 53.03 lakh shares were traded on the counter so far as against the average daily volumes of 28.21 lakh shares in the past one month.

Strides Pharma Science Ltd surged 8.64% to Rs 465.9. The stock was the third biggest gainer in 'A' group. On the BSE, 1.74 lakh shares were traded on the counter so far as against the average daily volumes of 1.32 lakh shares in the past one month.

Gateway Distriparks Ltd gained 7.72% to Rs 150.75. The stock was the fourth biggest gainer in 'A' group. On the BSE, 8008 shares were traded on the counter so far as against the average daily volumes of 11716 shares in the past one month.

Oriental Bank of Commerce added 7.70% to Rs 88.8. The stock was the fifth biggest gainer in 'A' group. On the BSE, 6.66 lakh shares were traded on the counter so far as against the average daily volumes of 4.23 lakh shares in the past one month.

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The Board of Directors of Linde India have made a voluntary delisting offer subject to equity shares involving the offer to acquire 21321056 equity shares of Rs 10 each representing 25% of share capital of the Company held by the public shareholders and accordingly delist the equity shares from BSE and NSE.

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The announcement was made during trading hours today, 9 November 2018.

Meanwhile, the S&P BSE Sensex was down 4.08 points, or 0.01% to 35,233.60.

On the BSE, 1.46 lakh shares were traded in the counter so far compared with average daily volumes of 5,626 shares in the past two weeks. The stock had hit a high of Rs 582.65 and a low of Rs 513.30 so far during the day. The stock hit a 52-week high of Rs 598.85 on 15 January 2018. The stock hit a 52-week low of Rs 386 on 8 October 2018.

The BOC Group holds 6.39 crore equity shares, representing 75% of the paid up share capital of Linde India.

The promoter group of the company intends to acquire 2.13 crore equity shares of the company, representing 25% of the paid up share capital, that are currently held by the public shareholders. Accordingly, the promoter shall make the delisting offer to the public shareholders.

The objective of making the delisting offer is to obtain full ownership of equity shares of the company, which will provide the promoter group with operational flexibility to support the company's business and future financing needs. Other reasons include, ongoing expenses with the maintenance of listing on BSE and NSE will be reduced, including investor relations expenses; the need to dedicate management time can be dedicated to the company's business, and time dedicated to compliance with listing requirements gets reduced.

The delisting price will be a price that is determined in accordance with the reverse book building process as set out in the delisting regulations (discovered price).

Linde India reported net profit of Rs 5.25 crore in Q1 June 2018 as against net loss of Rs 2.18 crore in Q1 June 2017. Net sales rose 11.54% to Rs 549.60 crore in Q1 June 2018 over Q1 June 2017.

Linde India, formerly BOC India, is a member of The Linde Group and the leading industrial gases company in India.

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