TTK Healthcare to delist from BSE, NSE; floor price set at Rs 1,051.31/share

TTK Healthcare's board on Thursday approved the voluntary delisting of the company at a price of Rs 1,051.31 per equity share.

Following the announcement, the stock fell over 2% to Rs 1,280.30 on BSE.

All the public shares will be acquired by promoters and members of the promoter group viz. T T Jagannathan, T T Raghunathan and TT Krishnamachari & Co, the exchange filing said.

The company had on April 5, 2023, informed the exchanges about convening the meeting of its Board of Directors on April 20, 2023.

TTK Healthcare is a Chennai-based company which has business interest in consumer and healthcare products. The over six-decade-old company also manufactures medical devices.

With a market capitalisation of Rs 1,816.38, TTK Healthcare is a smallcap firm. The stock hit its 52-week high of Rs 1,450 on April 6, 2023. The 52-week low is at Rs 667.50 which the stock hit on June 14, 2022.

Meanwhile, the stock market traded lackluster on Thursday in a rangebound trade on the account of weekly expiry. The benchmark indices S&P BSE Sensex and Nifty50 were trading in the red around 2:20 pm. While the former was trading at 59,555, down by 13 points, the latter was at 17,601, down 17.95 points.

The market breadth was skewed in favour of the bears with 23 advances and 27 declines in the 50-pack Nifty. Banking gauge Nifty Bank was trading at 42,207, up by 53 points or 0.13%.

Fortunes for many sectoral indices reversed from the morning trade. Out of 15 Nifty sectoral indices, 11 were trading in the red around this time. Both Nifty Pharma and Nifty Healthcare were the worst performers in the day’s trade.

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