Minda Corp, Pricol surge up to 6% amid stake sale buzz

Pricol said the promoters have absolutely no intent of undertaking any secondary sale of promoter stake nor does the company have any intent to raising equity capital of any form.

Shares of Minda Corporation (Rs 226.15) and Pricol (Rs 219) surged up to 6 per cent on the BSE in Friday’s intra-day trade amid reports that Minda Corporation plans to buy around 15.7 per cent stake in Pricol for Rs 400 crore at Rs 209 per share.

At 09:23 AM; Pricol had erased its intra-day gain, and was up 0.46 per cent at Rs 209.25, after the company’s promoter denied the stake sale plan. Minda Corporation was up 2 per cent at Rs 217.65 on the BSE. In comparison, the S&P BSE Sensex was down 0.50 per cent at