Shalby in the limelight

Shalby, which runs a chain of multi-specialty hospitals is in the limelight. The stock is currently trading 4% high at its high-point of the day till now at Rs.76.90 and is likely to see more action during the day. Its 20% UC of the day stands at Rs.88.35.

The stock is up as the company as scheduled a Board meeting on 28th Sept to consider and approve options to reduce the promoter's holding from the current 79.45% to 75.00% which is a mandatory requirement as per SEBI regulation.

Options to bring down stake includes preferential issues, private placements, qualified institutions placement or rights issue, or through any other permissible mode or any combination thereof of any of the above.