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Kohinoor Mandal
Nilanjan Dey

BOC's critical stakeholders included New India Assurance and United India Insurance, as well as Birla Mutual and HSBC Mutual.

Kolkata , March 6

The stock market seems to be reacting sharply to the news of Linde AG's worldwide takeover of BOC, as the latter witnessed sharp surge in price on the bourses on Monday.

The stock, which recorded considerably large volumes on the NSE and the BSE, closed nearly 11 per cent higher on both the exchanges. It moved to a high of Rs 184.40 on the NSE before closing at Rs 175.60. More than 23 lakh shares were traded, leading to a turnover of Rs 41.69 crore.

BOC's Indian arm, which is 54.8 per cent owned by The BOC Group plc, has been advancing steadily on the bourses for some time, despite corrections, at least till September last year, brokers point out, while referring to the stock's 52-week high of Rs 205.70 that was reached on September 21, 2005.

As at the end of the last quarter, BOC's critical stakeholders included insurance companies, including GIC, New India Assurance and United India Insurance, as well as mutual funds like Birla MF and HSBC MF. The Indian public-holding is about 21.6 per cent.

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