The shares of Areva T&D India fell 21.53 per cent to Rs. 154.70 at on the Bombay Stock Exchange after the news about the news about separation of its transmission and distribution businesses.

The board has decided to implement the de-merger from 14 December 2011. The fall in shares came as BSE Sensex rose 66.44 points, or 0.42%, to 16,068.95. the company saw a volume of 3.99 lakh shares on the BSE compared to the average an average daily volume of 76,076 shares in the last quarter.

The shares of the company hit a low of Rs. 140.90 and a high of Rs. 186 during the day at the time of reporting. The stock had hit a 52-week high of Rs. 349.90 on 4 January 2011.

During the last one month, the shares have declined 94% compared with the Sensex's 6.92% decline.

The company has a market value of Rs. 47.82 on shares of Rs. 2 face value. The company’s board met on 2 December and decided that shareholders would be entitled to receive 1 share each of Smartgrid Automation Distribution and Switchgear for every 1 share held in Areva T&D India on December 15.