Sanghi Industries shares tumble 12% on merger with Ambuja Cements
Shares of Sanghi Industries slumped 12.4% on Wednesday to Rs 67.42 on BSE after the company’s promoter Ambuja Cements said it will issue 12 shares for every 100 shares of Sanghi Industries under a merger scheme. Ambuja Cement said on Tuesday that it will merge its acquired companiesβ Sanghi Industries and Penna Cement Industriesβ with…
READ MORE
Gujarat Gas shares skyrocket 13% after announcing restructuring of group entities. Should you invest?
Shares of Gujarat Gas surged 13.6% to its new all-time high of Rs 689.45 on BSE after the company on Friday announced the restructuring of its group entities Gujarat State Petroleum Corporation (GSPC), Gujarat State Petronet (GSPL), and Gujarat Gas, following which the brokerages have upgraded the stockβs target price up to Rs 715. Under…
READ MORE