/ Mindtree Gets NCLT Approval For Amalgamation Of Two US-Based Cos ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 7 June 2017

Mindtree, an Indian multinational information technology and outsourcing company on Wednesday received the National Company Law Tribunal’s (NCLT) approval for its composite scheme of amalgamation.

The scheme includes the amalgamation of the US-based companies Discoventure Solutions LLC. and Relational Solutions Inc. with Mindtree Limited.

The stock of the company on the NSE was down by 3.1% and was trading at Rs 530 per share lower by Rs 17 per share at 1435 hours.

The stock has delivered negative returns of 18% in a period of one year and has underperformed the BSE Mid Cap and BSE IT indices over the same time span.

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