Reliance Broadcast hits the roof

Reliance Broadcast has hit the upper circuit the moment it opened for trading at Rs.47.55, up 5%.With volumes of less than 3000 shares, the stock was frozen at the this upper circuit. Over 3 lakh pending buy orders remained on the counter.

The stock has hit the roof after the company stated that its Board will be meeting on 18^th Sept, tomorrow,  to consider delisting of equity shares from the stock exchanges. As at 30^th June, promoters held 72.09% stake.