Hyderabad-based infrastructure firm IVRCL traded with strong gains Thursday on the buzz that the Andhra Pradesh High Court is likely to approve the merger of IVRCL with IVRCL Assets & Holdings.
Investors will get five shares of IVRCL for six shares of IVRCL Assets & Holdings, once the merger is cleared. Analysts said a price arbitrage existed between the two stocks if the merger is approved.
At 2 p.m., shares of the two companies traded with nearly 5 per cent gains on the BSE, while the broader Sensex rose 1.2 per cent.
In January, IVRCL had secured the approval from the Competition Commission of India for the proposed restructuring of business operations, paving way for amalgamation of IVRCL Assets & Holdings Ltd, with IVRCL Ltd., and the demerger of real estate business into a new company. The merger decision was announced last year.
Disclaimer: The information in Street Smart is sourced from our television channel, NDTV Profit. It is based on the buzz in the stock market and on secondary information. Readers should use discretion before using the information.
Hyderabad-based infrastructure firm IVRCL traded with strong gains Thursday on the buzz that the Andhra Pradesh High Court is likely to approve the merger of IVRCL with IVRCL Assets & Holdings.
Investors will get five shares of IVRCL for six shares of IVRCL Assets & Holdings, once the merger is cleared. Analysts said a price arbitrage existed between the two stocks if the merger is approved.
At 2 p.m., shares of the two companies traded with nearly 5 per cent gains on the BSE, while the broader Sensex rose 1.2 per cent.
In January, IVRCL had secured the approval from the Competition Commission of India for the proposed restructuring of business operations, paving way for amalgamation of IVRCL Assets & Holdings Ltd, with IVRCL Ltd., and the demerger of real estate business into a new company. The merger decision was announced last year.
Disclaimer: The information in Street Smart is sourced from our television channel, NDTV Profit. It is based on the buzz in the stock market and on secondary information. Readers should use discretion before using the information.
Hyderabad-based infrastructure firm IVRCL traded with strong gains Thursday on the buzz that the Andhra Pradesh High Court is likely to approve the merger of IVRCL with IVRCL Assets & Holdings.
Investors will get five shares of IVRCL for six shares of IVRCL Assets & Holdings, once the merger is cleared. Analysts said a price arbitrage existed between the two stocks if the merger is approved.
At 2 p.m., shares of the two companies traded with nearly 5 per cent gains on the BSE, while the broader Sensex rose 1.2 per cent.
In January, IVRCL had secured the approval from the Competition Commission of India for the proposed restructuring of business operations, paving way for amalgamation of IVRCL Assets & Holdings Ltd, with IVRCL Ltd., and the demerger of real estate business into a new company. The merger decision was announced last year.
Disclaimer: The information in Street Smart is sourced from our television channel, NDTV Profit. It is based on the buzz in the stock market and on secondary information. Readers should use discretion before using the information.
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