Ricoh India at new high

Ricoh India has hit a new 52-week high today at Rs.71.50, which is also its 20% upper circuit. The stock opened for trading at this price and was locked immediately.

The stock is at a new high following its announcement on 8^th Nov that the Board will meet today, 11^th Nov to consider the proposal of Delisting of shares of the company. Obviously the stock has surged on expectations of a high delisting price.

Promoters currently hold 73.60% stake, with no FII holding. DIIs hold 0.02% stake.