Smartlink Network makes new high on getting nod to sell its structured cabling business

Smartlink Network Systems is currently trading at Rs 83.75, up by 5.45 points or 6.96% from its previous closing of Rs 78.30 on the BSE.
The scrip opened at Rs 80.30 and has touched a high and low of Rs 93.95 and Rs 76.00 respectively. So far 2294949 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 93.95 on 31-Mar-2011 and a 52 week low of Rs 40.50 on 31-Mar-2010.
Last one week high and low of the scrip stood at Rs 93.95 and Rs 65.00 respectively. The current market cap of the company is Rs 249.94 crore.
The promoters holding in the company stood at 67.33% while Institutions and Non-Institutions held 0.02% and 32.65% respectively. Smartlink Network Systems has received its board’s approval for the sale of the structured cabling business comprising of manufacture, sale and marketing of structured cabling products carried on by it, under the brand name - Diglink - hereinafter referred to as the (Digilink Business) to Schneider Electric India.
The Digilink Business together with its respective assets and liabilities shall be transferred to Schneider, as a going concern on a slump sale basis, on a cash free and debt free basis, for a total consideration of Rs 503 crore.
Smartlink Network is engaged in the business of designing, manufacturing and marketing of advanced networking, broadband, digital, voice and data communications solutions. Company caters the global networking and connectivity needs of digital home consumers, small office professionals, small- to medium-sized businesses and enterprise environments