/ NCLT Nods Composite Scheme Of Arrangement Between ABNL And Grasim ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 2 June 2017

Grasim Industries has received the National Company Law Tribunal (NCLT) nod for the composite scheme of arrangement between Aditya Birla Nuvo (ABNL), Grasim Industries and Aditya Birla Financial Services limited.

The composite scheme of arrangement included the amalgamation of Aditya Birla Nuvo with Grasim Industries followed by the demerger and listing of Aditya Birla Financial Services (ABFS).

The shareholders and creditors of the company has approved the arrangement, as per the BSE filling dated April 11, 2017.

The stock of Grasim Industries on the NSE is clocking gains of 1.1% at Rs 1155 per share higher by Rs 15.50 per share at 1235 hours. The stock has delivered 33% returns in a period of one year and has outperformed the BSE Sensex over the same time span.

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