Shares of TTK Healthcare Ltd. hit a 52-week high as the company said its board is considering delisting the stocks from the exchanges.
The board of directors will review the delisting proposal for TTK Healthcare to acquire all equity shares held by the public shareholders on April 20. The due diligence report of the company secretary will be reviewed, and the board shall appoint a peer review company secretary, as per SEBI's delisting regulations.
The trading window has been closed since April 1 to prevent insider trading and will stay closed for 48 hours after the board meeting or the Q4 FY23 financial results, whichever is later.
Shares of TTK Healthcare Ltd. rose 4.47% to Rs 1,315.05 apiece, as of 11:05 a.m., compared to a 0.57% gain in the benchmark NSE Nifty 50. The stock gained as much as 17.10% intraday, hitting a 52-week high at Rs 1,474 apiece.
The total traded volume stood at 37.7 times its 30-day average. The relative strength index was at 85.7, implying that the stock maybe overbought.
Source: Bloomberg, Exchange filing
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