Elpro International zooms nearly 20 per cent

The stock of Elpro International zoomed nearly 20 per cent. The stock was locked in upper circuit at Rs. 52.55 per share, up by 19.98 per cent.

The spike in the share prices of the company is on the back of news that PNB MetLife plans to come out with an IPO offering, in which the company holds stakes. The company holds 12.7 per cent equity shareholding in PNB MetLife, a life insurance provider.

Elpro International is a company with interests in real estate, financial sector and is engaged in the manufacture of electrical equipment. The company manufactures surge arresters and zinc oxide discs with technical know-know from US-based GE.

The company also owns 35 acres of land in Pimpri Chinchwad, which is a fast developing neighbourhood of Pune city.