Infinite Computer at another new high

Infinite Computer Solutions had hit the 20% UC yesterday, going on to hit a new high at Rs.334.70. Today, the moment it opened for trading, it rose over 15% to Rs.385.45, another new high.

The company intends to get delisted and that is what has perked up the stock price.

The company stated yesterday that it has received a letter on 8th Jan from promoter, Sanjiv Govil, who has expressed his intention to make an offer to the public shareholders and acquire the entire 83.44 lakh equity shares or 25.02% stake of the company held.  

As at 30th Sept, 2018, Sanjiv Govil and the other promoters hold 74.98% stake.

The momentum in the stock price could continue till 12th Jan – the scheduled date when the Board will be meeting to take this delisting plan ahead.