/ Jindal Poly Films Gets NCLT Nod For Amalgamation ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 14 July 2017

Jindal Poly Films announced that the National Company Law Tribunal, Mumbai Bench has sanctioned the scheme of amalgamation between Global Nonwovens and Jindal Poly Films.

The scheme has already been sanctioned by NCLT, Allahabad Bench on April 7, 2017, the company said in its regulatory filing.

Shares of the company have given a negative return of 9% in a period of one year and underperformed the BSE Small Cap and Nifty Commodities' indices over the same time period.

Jindal Poly Films is a producer of polyester and bi-axially oriented polypropylene (BOPP) films (plain, metallised and coated), which are mainly used in the flexible packaging industry. Its segments include plastic films, photographic products and non-woven fabrics.

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