Nitin Fire has surged on the company’s acquisition plan in Europe. The Nitin Fire Protection Industries share has surged as much as 16.4 per cent.
The shares are headed towards their biggest daily gain since December 2013.
"We are looking to do an acquisition in Europe by 2015-end and are currently contemplating among two options," the company's Director Rahul Shah told Reuters
The board resolution to raise funds has already been passed, he added
The company has a debt/equity ratio of 1.06.