Spice Mobility gets really hot

With volumes surging 19 times, the Spice Mobility hit the 20% upper circuit Rs.26.40 within minutes of opening for trading.

The stock has hit the roof after the company announced that its Board will meet on 2nd Jan to consider a voluntary delisting. It has received a proposal from its promoter, Smart Ventures to delist from NSE and BSE.

To prevent insider trading, trading window for its stocks will be closed for directors and designated employees of the company covered under the said code from December 27, 2014 to January 03, 2015 (both days inclusive).

As at 30th Sept 2014, Smart Ventures held 74.36% stake in the company and another independent non-promoter, Mahesh Prasad held 20.72% stake, leaving a very meagre floating stock.