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BOC India declined on lost market hopes of an open offer from Linde AG of Germany, the recent overseas acquirer of BOC Group of the UK. The process of acquisition of the holding company of BoC India in the UK began in April last. But the market talk was that the new overseas promoters have sought waiver from SEBI regarding an open offer (under the Indian takeover rules) for the indirect acquisition of BOC India.

The sentiment in the stock was down, according to market sources, despite expectation of better quarterly results in view of increased demand for BOC India's products from its main client industry - steel. The stock declined 1.40 per cent at close to Rs 169.40 on the BSE.

Jayanta Mallick

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