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The stock quoted a 52-week high price of Rs 724.5 and a 52-week low of Rs 411.0.

Among other potential investors, YES Bank has also held discussions with Carlyle and Advent, according to the report.

On the technical charts, the RSI of the stock stood at 47.3.

“Sintex Industries vide its announcement dated March 20, 2022, informed the Exchange regarding approval of the resolution plan by the Committee of Creditors’ members… which proposes that existing share capital of the Company shall be reduced to zero and the Company will be delisted from the stock exchanges,” said BSE in a notice.

The decline in ad spends-to-sales ratio is concerning given the elevatedcommodity cost ahead.

A total of 160 shares changed hands on the counter till 12:43PM (IST)

“ The commodity companies need to push up prices further which will be a tough call given that the overall environment is still unsure because of the Ukraine-Russia conflict. The metal and commodity stocks are positional investments because the valuations are on their side and balance sheets are stronger for the companies today than they were two years ago.”

Proposed investment into Shankara to strengthendistribution of structural steel tubes

The Nifty Auto index was trading 0.72 per cent down at 10373.1.

APL Apollo had in the past acquired a 200,000 MTPA tube manufacturing unit from Shankara in April 2019 for Rs 70 crore. Analysts noted that the company recovered its investment cost within three years, boosting overall return on capital employed. The plant also helped the company expand its South India sales.